Word: minnesota
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Dates: during 1980-1989
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...Eastern Airlines prepared to embark on a new flight plan last week, another major carrier flew into the combat zone. In Minnesota directors of NWA, the parent company of Northwest Airlines, broke a week-long silence by rejecting a $2.6 billion takeover bid from a group headed by Los Angeles investor Marvin Davis. In spurning the $90-a-share offer, NWA Chairman Steven Rothmeier, 42, said his firm fully intends to remain independent. But Davis, whose group owns 3% of NWA's shares, vowed to press ahead with plans to acquire the company and its prize asset, Northwest, the fourth...
...garner support, Davis pledged to keep NWA in Minnesota, where it has 15,000 employees, and to leave the airline intact. But that hardly reassured the company's workers, who fear that a takeover could bring belt tightening and layoffs. To protect their interests, labor unions at Northwest are opening talks with Davis and other prospective buyers...
...however, has little interest in selling out. The company's arsenal includes a rare bipartisan alliance of Minnesota leaders, who last week declared their intent to send Davis packing. Said Governor Rudy Perpich: "This will be all-out war as far as the state of Minnesota is concerned." The politicians have already begun drafting measures that would include empowering state officials to veto hostile deals that would cause an adverse economic impact...
...even as NWA geared up for battle, the appearance of unity began to fade. Minnesota Democrat James Oberstar, chairman of the House aviation subcommittee, met with Davis last week and later said the billionaire's promise to build a major airline-repair center in Minnesota makes the bid "a very attractive offer." But Davis will need all his charm and cash to persuade the defiant Northwesterners...
EVEN 10 days after Ed Krayer '89-'90 scored The Goal in St. Paul, Minn., to give the Harvard hockey team the 1989 NCAA title, folks around here don't want to forget about the Crimson's unforgettable victory over the University of Minnesota...