Word: bruchey
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Dates: during 1989-1989
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...Fancying themselves managers as well as marauders, they built huge but shaky empires that rested on debt. Result: their vast borrowings at sky-high interest rates left companies ranging from TWA to Allied department stores awash in red ink. "Many of the raiders' problems are self-inflicted," says Stuart Bruchey, a professor of economic history at the Columbia University Business School. "They jump into businesses that they don't understand, and expect to jump out with a quick profit. But they end up getting badly bogged down...
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