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...participating in a new eight-week summer internship program organized by the Harvard-based chapter of the Overseas Development Network (ODN), which is aimed at getting students out of offices and into "the field...
...total deficits in the past 15 months to $914 million and raised questions about its ability to survive as an independent institution. But the week's most stunning news came the very next day. Dallas-based LTV, the No. 2 U.S. steelmaker and a major defense contractor, filed for Chapter 11 bankruptcy to keep creditors at bay while it tries to make a financial comeback. In terms of its revenues, which reached $8.2 billion last year, LTV is the largest U.S. company ever to declare bankruptcy...
...agonizing decline since 1981, the last year it made a profit. Now desperately short of cash after losing more than $1.5 billion, the company chose bankruptcy because it saw no prospect for a fast turnaround in the U.S. steel industry's epic slump. The company will operate in Chapter 11 for an estimated 1 1/2 to four years, shielded from creditors to whom it owes more than $4 billion, while it tries to overhaul its steel operations. Declared Chairman Raymond Hay: "We are fully confident that we will emerge from Chapter 11 as a strong, viable company." Indeed, bankruptcy...
...most active groups of antipornography crusaders is Wildmon's National Federation for Decency, which grew from its Tupelo headquarters to encompass 350 chapters nationwide. Leslie and Ronald Pasquini run the chapter in Springfield, Mass., which coordinates efforts in New England. It claims 1,000 members and has staged pickets at 30 adult-magazine outlets in the region. The group's relentless pressure on the Rhode Island-based CVS drugstore chain, along with the commission letter, apparently bore fruit last month: the company announced it was removing Playboy and Penthouse from its 600 shops...
...Hutton pleaded guilty to a check-kiting scheme. The Securities and Exchange Commission said in May that it had cracked the largest insider-trading case ever: the $12.6 million scam allegedly engineered by Dennis Levine, a former managing director at Drexel Burnham. The Shearson indictment is the latest chapter in a continuing saga of Wall Street scandal. No one is calling it the last...