Word: settlements
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That Loewen's shareholders will benefit, merger or not, is certain. The offer has bid up the value of their stock and, incidentally, of O'Keefe's settlement, which included 1.5 million shares. If SCI prevails at $45 a share, that stock will be worth $22.5 million more than was guaranteed in the settlement...
...diplomatic cover, a large house, car and private schools for his three children went with the job. When he was moved back to the U.S. in 1994, the expatriate good life disappeared. That same year he divorced his wife and won custody of his children. That meant a property settlement, plus alimony payments that claimed a fourth of his take-home...
...that gesture to its black customers made me a lifelong supporter. So it's a no-brainer for me to help Jesse Jackson and other black leaders keep the pressure on Texaco by boycotting the chain while they negotiate concessions that go even further than last Friday's extraordinary settlement of a bitter discrimination suit...
...perform the most spectacular flip-flop since Kerri Strug's Olympic showstopper. In a textbook feat of corporate damage control, he agreed last week to spend $176 million to end the lawsuit filed by black employees whom Texaco has been stonewalling for years. The pact contains the most lucrative settlement ever of a U.S. discrimination case. If wholeheartedly implemented, it could transform Texaco from a bastion of bigotry to an oasis of equal opportunity. But Bijur deserves no applause for all this: he had no other choice...
Last year Texaco was reprimanded by the Office of Federal Contract Compliance Programs for unfair employment practices at its facilities in Houston. And just this past June, the EEOC, which conducted its own investigation of the complaints covered by last week's settlement, found there was reasonable cause to believe that Texaco discriminates against blacks in certain salary categories "because of their race...