Word: unioned
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Dates: during 1990-1999
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...make new acquisitions too costly? "I suppose that depends," McColl drawls, "on how skilled you are at taking costs out of the new combined company." Last year saw a record 72 bank acquisitions valued at more than $100 million apiece. The big gulp: a $16.5 billion deal by First Union--McColl's crosstown Charlotte rival--to acquire Philadelphia-based CoreStates Financial. That topped McColl's $15.5 billion buyout of Barnett Banks in Florida...
...that they are exploring a merger, likely to cost several hundred jobs. For different reasons, recently merged Salomon Smith Barney is cutting as many as 1,500 positions. Chase Manhattan, after combining with Chemical Bank in 1996, is laying off about 3,000. The Swiss Bank Corp. merger with Union Bank of Switzerland has prompted a flood of pink slips in New York City. There's been selective pruning at the merged Morgan Stanley Dean Witter Discover. And since Asia tanked, international firms, including NatWest Securities, J.P. Morgan and Deutsche Morgan Grenfell, have been letting people go around the world...
Documents obtained by TIME show new action in the Teamsters union investigation and could signal fresh problems for the White House. Last week federal investigators handed over to the union?s court-appointed overseers a ?highly personal and confidential? memo written in January 1997 by Jere Nash, campaign manager for Ron Carey, a month after he was re-elected Teamsters president. The memo, addressed to Carey, details how union employees helped his election. For example, the union?s chief organizer turned his entire staff into an arm of the campaign, which is illegal. Nash has pleaded guilty of conspiracy...
...Clinton/Gore Election Committee... because it could harm the active, ongoing criminal investigation.? Investigators say the letter shows that the New York grand jury has targeted an alleged scheme in which Democrats would direct campaign contributions to Carey in return for contributions to state Democratic parties out of Teamster union funds...
Brittan's discussion focused on the union's growth and its bright economic future...