Word: northwest
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Dates: during 1960-1969
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...Mountain anchors the northwest corner of South Viet Nam's A Shau Valley, since 1966 a major infiltration route for Communist forces from the Ho Chi Minh Trail in Laos to the coastal cities of northern I Corps. It is a mountain much like any other in that part of the Highlands, green, triple-canopied and spiked with thick stands of bamboo. On military maps it is listed as Hill 937, the number representing its height in meters. Last week it acquired another name: Hamburger Hill. It was a grisly but all too appropriate description, for the battle...
...Ohio Division of Securities prohibited Northwest from soliciting shares in that state because of "indeterminate factors." Most important, the Justice Department intervened on the ground that the Northwest bid raised antitrust questions. The case promises to be a significant part of Antitrust Chief Richard McLaren's plan to challenge conglomerates (see following story...
Save Me, Save Me. The Goodrich defense has been doubly effective because U.S. securities laws commit Northwest executives to frustrating silence until their tender offer expires in June. Heineman has been able to speak out only to the extent of blaming his firm's first-quarter loss largely on a strike at its Lone Star Steel Co. and the severe weather, which hampered its rail operations. He has also talked in general terms about struggles for corporate control. "There are a lot of frightened, stodgy companies with frightened, stodgy managements," he says. "Conservative businessmen are running to the Government...
Keener and his fellow managers have shown through their vigorous defense that they are anything but stodgy. Even so, they are not about to turn down the Government's help. If the trustbusters do enjoin the financial battle with Northwest Industries, Goodrich shareholders will not even get a chance to decide that they might like Heineman's offer after...
...were not subject to existing antitrust law, "let the merger movement get clear out of hand." In rapid succession, he has announced actions against three big conglomerates. His trustbusters are contesting Ling-Temco-Vought's takeover of Jones & Laughlin Steel; ITT's acquisition of Canteen Corp. and Northwest Industries' attempt to buy up B. F. Goodrich. Such mergers, McLaren says, are forcing "a radical restructuring" of the economy. The restructuring that he is talking about is not based on valid economic grounds, he contends, but rather on financial considerations. He is confident that the courts will agree...