Word: ares
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Dates: during 1980-1989
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Yet the biggest chill has come over raiders who once promised to run companies more efficiently than did the bosses they ousted. Largely self-made men who flaunted their contempt for corporate America, many raiders have had a rude comeuppance. Some have suffered much greater setbacks than others, but few...
Textile Titan. Many skeptical eyes are turned on William Farley, the physical-fitness buff who acquired Northwest Industries, the maker of Fruit of the Loom products, for $1 billion in 1985. Last February Farley took over textile giant West Point-Pepperell in a $3 billion raid that included $1.6 billion...
Financial woes are not the raiders' only big headache. Their past attacks have led U.S. companies to fortify anti-takeover defenses, making it harder for new raids to succeed. And the long Wall Street bull market has raised stock prices, leaving fewer targets for bargain-hunting buccaneers.
As the Roaring Eighties reach an end, the verdict on raiding is becoming clear. Defenders of the practice insist that raiders have made U.S. industry more competitive by forcing bloated companies to slim down and shape up. Yet the towering debt loads piled up during the raider era -- by both...
Dismantling an army, of course, is an extraordinary step. The only precedent is provided by Costa Rica, which discarded its military in 1949. In Switzerland any such development would change the fabric of the nation, given the unique and even mythic status the army enjoys. For a country that has...