Word: borrower
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Dates: during 1980-1989
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...pull off the deal, Goldsmith and his partners propose to borrow nearly $17 billion. Drexel Burnham Lambert will raise $6.4 billion through a junk- bond issue, and Bankers Trust will assemble a consortium of banks to provide the rest. Yet B.A.T investors would get no cash for their 1.5 billion shares. Instead, Goldsmith and his partners, bidding through a company called Hoylake Investments, would pay B.A.T shareholders a combination of Hoylake stock and loan chits worth $13.82 a share (B.A.T stock was trading at 11.28 in London before the deal was announced). Hoylake would pay down the debts by selling...
...year's trendy fabric, and come in offbeat colors. Examples: pleated, prewashed linen trousers ($59) available in Moroccan brown, sage, cadet or flax; and cotton- Lycra pants ($29) in the colors of sky and palm. Tweeds' designers take about four trips to Europe each year to observe -- and sometimes borrow -- the latest Continental fashions and fabrics...
...been earning good money legitimately since age 15, when he already owned a Long Island, N.Y., parking lot. Says he: "I used to walk around with $10,000 in my pocket, but my father-in-law had to pay the $300 mortgage each month." In New York he would borrow $30,000 to $50,000 a week and lose about 80% of it over a weekend. "Then I'd steal," he says. Sometimes he would pilfer racks of dresses off the streets in Manhattan's garment district and sell them in a back alley. He adds, "There's plenty...
...Paramount would have to borrow some $10 billion to acquire Time at the offering price, which Davis admitted at an analysts' meeting would mean no earnings for at least two years and would be a long-term drain on operations. At the very least, the debt would impose the kind of cost cutting that has characterized Laurence Tisch's management of CBS. At worst, it could force the sale of certain assets to meet the bankers' bills. Indeed, almost any of Time's defensive strategies would require heavy borrowing that would sap profits from whatever entity results when the dust...
Forman now laughs when she thinks about the program four years ago, when it was tough for the team to get a van to travel to games, and the players had to borrow volleyballs from other teams and play in poorly lit conditions...