Word: groves
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Late last week a cordon of Montana State University police stepped aside as Gary Strobel, a professor of plant pathology, led a group of onlookers to a stand of 13 American elms in the Bozeman campus research grove. He took a chain saw and severed the trees six inches above the ground. Then the trunks were sawed into sections and trucked to an incinerator. The stumps were doused with a powerful herbicide, and the surrounding soil was fumigated. Said a tearful Strobel: "Now maybe I can go back to other things...
...million complex, including the 4,650-student Oral Roberts University and the City of Faith Hospital. Annual budget: some $120 million. Robert Schuller, 60, who was ordained by the Reformed Church in America, broadcasts his syndicated weekly Hour of Power shows from the $20 million Crystal Cathedral in Garden Grove, Calif., and takes in some $42 million annually...
...stockholders, including unwelcome suitors, in a maneuver known as recapitalization. The idea is to create a debt-burdened company less attractive to raiders. Last week both publishing giant Harcourt Brace Jovanovich (1986 revenues: $1.3 billion), of Orlando, and travel conglomerate Allegis (1986 revenues: $9.2 billion), of Elk Grove Township, Ill., made use of this shark repellent to fend off marauders...
...scandal seems to have had a fallout effect on some other televangelists. Falwell admits that proceeds at various enterprises in Lynchburg were down $2 million in April; Jimmy Swaggart reports a $1.5 million decline for that month. The Rev. Robert Schuller of Garden Grove, Calif., whose popular Hour of Power is carried by 172 TV stations, shows a 3% dip in donations so far in 1987, but he does not consider that necessarily a result of the PTL scandal. The televangelist with the most to lose is the one with the biggest video operation, Republican Presidential Candidate Pat Robertson...
...jetliners from Seattle's Boeing last week, the No. 2 U.S. carrier secured more than standard safety equipment. As part of the deal, Boeing agreed to purchase $700 million in promissory notes convertible to stock in the airline's parent, Allegis, based in Elk Grove Village, Ill. If Boeing acquires stock, it could become the company's largest shareholder and thus help Allegis thwart hostile takeover attempts. Boeing cannot exceed a 30% share without the consent of Allegis' board...