Word: squeezees
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When Australian Raider Robert Holmes a Court spent more than $800 million to buy 9.6% of Texaco's stock for an average of $37 a share this year, many Wall Streeters applauded his gutsy vote of confidence in the bankrupt oil giant's chances for recovery. But after the October...
The budget has become increasingly hard to trim as the outstanding federal debt ($2.37 trillion) has mounted, since interest payments on old borrowings are crowding out other items. Net interest outlays increased from 9% of the budget in fiscal 1980 to 14% in 1986, or $136 billion. Such uncontrollable expenditures...
I winced with each sip. I vowed never to drink black coffee again, even if Squeeze did sing a song about it. And despite my effort, he didn't ask me out again.
Nowhere is the problem more acute than in depressed Texas, where a revenue squeeze has forced lawmakers to limit the rate of prison expansion. The prison system, with a theoretical maximum capacity of 40,476, has been closed to new arrivals 17 times in 1987, most recently last week. Last...
Another area of vulnerability for U.S. manufacturers was the hydraulic- robot technology pioneered by Unimation. The company's robots, which became the American industry standard, were large (up to 4,000 lbs.), powerful, multipurpose and expensive, ranging in price from $30,000 to $200,000 apiece. But these bulky hydraulic...