Word: asher
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Dates: during 1980-1989
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When he burst upon the takeover scene in the early 1980s, Asher Edelman seemed to have a magic touch. Bright, brash and hyperconfident, he reaped more than $40 million in instant profits for himself and his investors by raiding and liquidating two dreary companies: Management Assistance, a computer maker, and Canal-Randolph, a real estate firm. Suddenly superrich, the Bard College graduate, reared on Long Island, N.Y., bought fashionable residences from Sun Valley to Switzerland, a 100-ft. yacht, a personal jet and a modern-art collection today rumored to be worth $100 million...
FRUEHAUF. The company's troubles began after takeover artist Asher Edelman launched a $1 billion hostile bid. Following the advice of Merrill Lynch, Fruehauf acquired Edelman's 10% stake at a profit to the raider of $120 million. Some 70 Fruehauf executives then joined forces in a leveraged buyout. But when the trailer division slumped in 1987 as cost-conscious truckers cut back on new orders, Fruehauf had to strain to meet interest payments, which had climbed to $101 million a year. As other divisions faltered, Fruehauf embarked on desperate cost-cutting moves and fire sales that have hollowed...
ARAFAT'S refusal to clearly recognize Israel makes sense in light of his (and his organization's) past statements. They all indicate what Tel Aviv analyst Asher Susser calls a "strategy of phases," in which the Palestinian liberation movement aims to take control of Israel...
...event was held partially to "recruit students to help on various research projects" for ACLU's Harvard chapter, said organizer Warren O. Asher, a second-year law student and member of the Harvard Law School Civil Liberties Union. Asher handed out buttons during the meeting which read, "I am a card carrying member of the ACLU...
...graduate of Duke and Harvard Business School, Pearlman worked two years for Plaza Securities, the firm of Corporate Raider Asher Edelman. Says Pearlman: "I don't think that age is the most important factor. It's doing your homework and understanding what needs to be done." Evidently, Wall Street agrees. Bankers Trust has offered Pearlman financing worth $120 million, proving that it thinks the young man's takeover is anything but kid stuff...