The Story Behind The Bankers Trust StoryLinda Himelstein
On the evening of Sept. 13, just three hours before BUSINESS WEEK closed its issue dated Sept. 25, the fax machine on the 48th floor of the magazine's publisher, The McGraw-Hill Companies, began to hum. McGraw-Hill General Counsel Kenneth M. Vittor was finishing a routine prepublication legal review of an investigative article about litigation between Procter & Gamble Co. and Bankers Trust Co. What emerged from the machine at 6 p.m. dramatically altered the course of the evening. It was not just a court order prohibiting BUSINESS WEEK from publishing information in the article--it was an order that would set off a scramble within McGraw-Hill and at media organizations across the U.S. and set the stage for a test of First Amendment rights.
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