Word: brawling
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Persuaded that KKR was the winner, directors summoned Kravis to a conference room at about 9 p.m. to complete the deal. The real brawl, however, was just beginning. "This game is not played by Marquis of Queensberry rules," said a Johnson adviser. "There really are no rules for this kind of auction...
Even as Johnson backed away from his huge initial stake, rival bidders rushed in to get theirs. The competing offers turned the fight for RJR Nabisco, whose brands range from Animals Crackers to Winston cigarettes, into the brassiest and potentially most damaging brawl in Wall Street history. By last week three groups were locked in a titanic struggle for the company (1987 revenues: $15.8 billion), and the offering price has climbed above $26 billion -- more than the gross national product of Peru or Portugal and twice the sum that Chevron paid for Gulf Oil in 1984 in the largest previous...
...Amid the brawl for his company, Johnson has remained aloof from most outsiders and workers at RJR Nabisco headquarters in the elegant Galleria complex north of Atlanta. "We don't know what is going on," says an employee. "Some of us are going to lose our jobs, but we don't know who, or where." Feelings of helplessness were hardly confined to the South. Said a 15-year employee at an RJR Nabisco cookie plant in Fair Lawn, N.J.: "When you're at the bottom of the ladder and you got money men at the top, you take...
COVER: The brawl for RJR Nabisco tests the limits of greed and American capitalism...
...rith, there are about 2,000 members of racist skinhead gangs active in 21 states. Lately they have become more visible on the West Coast, possibly because of recruiting efforts by the Aryan Youth Movement, a neo-Nazi group whose leader, John Metzger, was among those involved in the brawl on the Geraldo Rivera show. Their menace may be spreading. Warns David Lowe, an associate director of the A.D.L.: "There have been skinhead activities in areas where racist activities have never made inroads before. They are young kids, and they are very mobile...