Word: northwest
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Dates: during 1980-1989
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...city has lost 800,000 people since the 1950s, and is scarred by 12,000 or more empty buildings. Every year about 2,000 additional structures are abandoned to rats, crack dealers, vagrants and vandals. In July three angry residents of Grayfield Street in northwest Detroit, fed up with the eyesores on their block, took matters into their own hands. With sledgehammers and axes they hacked down two abandoned, vermin-infested buildings...
Only two months after Northwest Airlines rebuffed his $2.6 billion bid, Davis has bounced back with an even grander scheme. Last week he offered to pay $5.4 billion, or $240 a share, for UAL, the parent company of United Airlines, the second largest U.S. carrier. UAL's board said it would consider the offer, and sent emissaries to meet with Davis' advisers. Meanwhile, UAL shares rocketed from 164 1/2 to 257 in just four days. Wall Streeters believe that the price could top $300 if other buyers...
...Davis picked up another $50 million by buying the Beverly Hills Hotel from the family of insider trader Ivan Boesky in 1986, then turning around and selling it to the Sultan of Brunei. Even Davis' "dry hole" takeover attempts often pay off. While Los Angeles investor Alfred Checchi won Northwest with a $4 billion bid, for example, Davis pocketed an estimated $30 million by selling his shares after the price...
...most frightening accident of the week was reminiscent of the July 19 crash of a United Airlines DC-10 in Sioux City, Iowa, caused when the rear engine exploded, cutting the plane's hydraulic flight controls. On Wednesday the rear engine shattered on a Northwest DC-10 headed for Minneapolis, blasting holes in the engine housing. The plane landed safely in Denver. In the first mishap, the engine was a General Electric model, in the second, a Pratt & Whitney; no cause has been determined for either explosion...
...Another Northwest DC-10 turned back to Detroit immediately after takeoff because the flap controls were not working properly. By week's end many anxious travelers were avoiding bookings on DC-10s. Addressing the fears, Federal Aviation Administrator James Busey maintained that there is no evidence that DC-10s are less safe than other airliners...