Word: altmans
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Most Allied and Federated stores are likely to stay in business no matter how Campeau ultimately fares. The chains are far better merchandisers than B. Altman, a declining retailer shuttered last year by George Herscu, an overleveraged Australian raider who acquired the company in 1987. The problems at Allied and Federated stemmed from no fault of their own but were caused mainly by the audacious price that Campeau paid...
Tanner '88 (HBO, 1988). In the midst of the decade's most boring presidential campaign, writer Garry Trudeau and director Robert Altman invented their own candidate (played with mealy-mouthed hilarity by Michael Murphy) and concocted a brilliant satire of politics, media, life...
Replacing Herscu as L.J. Hooker's chief was Sanford Sigoloff, a turnaround king who says he was not surprised to see B. Altman die. "With so many choice properties on the market, like Bloomingdale's and Saks Fifth Avenue, who would want Altman's? I hate to say the store was old, but it was outmoded." KMO Realty Partners, which now owns Altman's real estate, controls the rights to the store's name. KMO will probably try to make some use of it, perhaps selling it to an apparel maker or retailer, but the B. Altman name will probably...
That prospect is disappointing to Altman's devotees. "I'll be very sorry to see it go," said G.V. Biden, a customer since 1951. As shoppers last week scouted for bargains among Ralph Lauren shirts and Anne Klein coats, some decided to hold out for even steeper discounts. Sigoloff concedes that in the next few weeks "you'll see some serious price cutting as we try to move the older B. Altman inventory." GOING OUT OF BUSINESS, blared the bright red signs scattered throughout the old emporium. CLOSING OUR DOORS FOREVER...
Takeover artists once made U.S. industry tremble, but now it is their turn to shake. Many are saddled with debt-ridden companies or have little of their old clout left. The collapse of B. Altman...