Word: abuzz
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Wall Street has been abuzz for the past month with rumors that a mysterious investor was acquiring a major stake in Unocal (1984 sales: $11.5 billion) and might launch a takeover battle for the 14th largest U.S. oil company. Last week the great accumulator stepped forward. Texas Oilman T. Boone Pickens Jr. said that he and a group of partners have spent $584 million to acquire 13.8 million Unocal shares, or 7.9% of the company's stock...
Frankly, the space world is abuzz. NASA officials, eager to capitalize on experience gleaned from the highly successful space shuttle program, are talking optimistically of a series of new ventures which include extensive commercialization of the space program, a revitalized planetary and space science effort, and a permanent manned space station project...
...waiting, life on ice, kept for possible use by participants in the hospital's in-vitro fertilization (IVF) program. Last week hospital officials were stunned to learn that two of their charges could be heirs to a million-dollar fortune. The news set armchair ethicists around the world abuzz and forced Australian policymakers to ponder an area of the law that is indeed embryonic...
Chicago was abuzz, though, with speculation that a deal was in the works. In a front-page story, the Chicago Tribune claimed that Robert Abboud, president of Occidental Petroleum, and Drexel Burnham Lambert, a New York City investment banking firm, were putting together a group of investors to rescue Continental with a $2 billion infusion of capital. The story seemed plausible because Abboud was once chairman of First Chicago, Continental's crosstown competitor. He was abruptly fired in 1980, after his bank suffered an earnings slump...
Last week, however, Washington was abuzz with news that the CIA had influenced the campaign without going through foreign channels. Three members of the Senate Intelligence Committee confirmed to TIME that a CIA official had told the committee two weeks ago that the agency has subsidized the Christian Democrats and two smaller parties. The funds amounted to at least $2 million. The campaign against D'Aubuisson was conducted in accordance with a presidential "finding" in March 1981 that directed the CIA to combat Marxism in Central America through a variety of means, including election financing. In reply...