Word: bahrain
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Dates: during 1990-1999
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...strong. The country has 1 million battle-hardened men under arms, plus 500 combat aircraft and 5,500 tanks. The U.S. has no ground troops in the region; its presence is limited to six medium-size ships of the Joint Task Force * Middle East, based on the island of Bahrain. The aircraft carrier Independence is steaming toward a station off the Straits of Hormuz, and the carrier Saratoga will join the Eisenhower in the Mediterranean, but they would be hard pressed to roll back Iraq's army...
...four potential buyers vied for the richly profitable company (estimated 1989 earnings: $111 million), which has 45 stores in such locales as Manhattan, Beverly Hills, and Palm Beach, Fla. When the winning bid of $1.5 billion was disclosed last week, the victor was Investcorp, a reclusive firm based in Bahrain that is becoming a powerful force in retailing...
...debt to finance purchases, Investcorp usually pumps a large amount of its own equity capital into the companies it acquires. Moreover, the firm generally adopts a hands-off approach to managing its holdings. While the cost of the Saks buyout may tempt Investcorp to push for higher profits, the Bahrain firm contends that it will be true to its unmeddlesome philosophy. "We are owners, not managers," said Savio Tung, a top officer. "We bid for Saks because we thought it was a great company, not because we wanted to change...