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KwameTure: Social, Cultural and Black Activist Succumbs to Prostate Cancer By Howard Franklin World & Local News Editor Kwame Ture, who coined the phrase "Black Power" as Stokely Carmichael and used it in the civil rights upheavals of the 1960's, died Sunday in Guinea. He was 57. An AAPRP (All-African People's Revolutionary Party) member and one on Ture's closest friends, Amadou Ly, was with him when he died. The Rev. Jeese Jackson said he visited with Ture three times at his home in Guinea during a trip to Africa last week. "In many ways he was at peace with himself, " Jackson said in a telephone interview from Washington. "He wanted his last days to be in guinea and West Africa. He wanted to be amongst the people of Africa." Ture was diagnosed with prostate cancer in 1996. He was treated in Cuba and received financial assistance for his treatment from Nation of Islam leader Louis Farakhan. Born in Trinidad on June 29, 1941, Ture described himself as in compliant acceptance of white authority while growing up. At age 11, his parents moved him to New York, where the bright youngster attended the academically elite Bronx High School of Science He later reproached his new surroundings, a liberal, middle class white neighborhood, as phony. In 1960, he enrolled at Howard University in Wash., D.C., where he earned a philosophy degree and dove headfirst into the civil rights struggle. As youth, Carmichael, he was among the most fiery and visible leaders of the Black militancy in the 1960's, first as the head of the Student Nonviolent Coordinating Committee and then as prime minister of the Black Panther Party. In a time when black college students were beaten and arrested for daring to sit at white-only Southern lunch counters, Carmichael joined the first freedom rides and suffered the first of many jailings when he reached Mississippi. In 1966, three weeks before his 25th birthday, he was elected national chairman of the SNCC and raised the cry of "black power' while leading the freedom march in Mississippi shortly thereafter. In 1968, he left the SNCC for the Black panthers, but separated from that urban- guerilla movement because it favored working with radical whites. He said history showed such alliances had "led to the complete subversion of Blacks by Whites." Rep. John Lewis, who met Carmichael in the freedom rides of 1961 and preceded him as the chairman of the SNCC, said he would be remembered, "as one of the more militant spokespersons of that period. He held strong views in terms of civil rights and civil liberties, both here and in Africa." From Guinea, he declared himself a Pan-Africanist with the goal of forming "one cohesive force to wage an unrelenting armed struggle against the white Western empire for the liberation of our people." His mother, three sisters, and two sons survive Ture. 5,500 jobs will be lost in historic takeover FRANKFURT, Germany (AP) - As Deutsche Bank AG officially announced its acquisition of Bankers Trust Corp. today, the German bank said it will cut 5,500 jobs, mostly in New York and London. Deutsche Bank Chairman Rolf Breuer said not all of the lost jobs would be at Bankers Trust. The global markets, global equities, and information technology/ operations departments will each account for 25 percent of the job cuts. The remaining quarter will stem from "other areas," Breuer said at a news conference. Although executives said the managerial structure of the combined bank is still being determined, Deutsche Bank has set aside $400 million for bonus payments to hold onto prized managers at Bankers Trust. According to the terms of the widely anticipated deal, Deutsche Bank will pay Bankers Trust shareholders $93 a share, or about $10.1 billion, sealing the largest takeover ever of a U.S. financial institution by a foreign bank. The boards of both banks approved the offer Sunday. The deal combines Germany's largest bank, with assets of $675 billion, with the eighth-largest U.S. bank, with $156 billion in assets. With assets of more than $800 billion, the combined bank would surpass current No. 1 UBS AG of Switzerland and the recently formed Citigroup Inc., the largest U.S. financial services company. Breuer will head the combined company. Frank Newman, Bankers Trust's chairman, and Josef Ackermann, the current head of Deutsche Bank's global corporate and institutional business, are expected to jointly head the merged investment and corporate banking operations. The Wall Street Journal reported today that Newman has agreed to stay on for at least three years. A Bankers Trust spokesman said he could not confirm that. The merger is part of Deutsche Bank's strategy to extend operations into North America. The bank failed earlier this year in a bid for J.P. Morgan & Co., and reportedly looked into several potential targets. New York- based Bankers Trust, meanwhile, was perceived as ripe for acquisition. While strong in stock and bond underwriting and in real estate, the company does not have a consumer banking business to shield it from Wall Street losses, unlike its other large competitors. It was hit harder than many competitors by the summer's financial problems in Asia and Russia. Both Deutsche Bank and Bankers Trust are in the midst of individual restructuring efforts aimed at cutting costs. Deutsche Bank announced early this year a $1.5 billion restructuring, while Bankers Trust announced a $300 million restructuring effort at the end of the third quarter. In morning trading, shares of Bankers Trust rose $1,311/ 4, or 1.5 percent, to $86,871/2 on the New York Stock Exchange. Deutsche Bank does not trade in the United States, although Breuer said Deutsche Bank may list its shares on U.S. stock exchanges sometime next year. The merger must be approved by New York state and U.S. banking regulators.