Word: buyout
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...driven performer, Wachner, 50, rose from a bra-and-girdle buyer at Macy's to head cosmetics giant Max Factor. In 1986 she masterminded a hostile buyout at Warnaco and took the company public in 1991. As a mogul, she helicopters from her Park Avenue headquarters to a mansion in the Hamptons, New York's summer-resort community. As a manager, Wachner once made a FORTUNE roster of "Toughest Bosses" for her low tolerance for underperformers. "You'd better start firing people," the magazine quoted her telling a newly arrived executive, "so they'll understand you're serious...
...chose to reinvent. At week's end Bennett was putting the finishing touches on a leveraged buyout that would take control of Prodigy from IBM and Sears and retool it into a net-based multimedia studio. If all goes according to plan, Bennett and his team will be running a giant-content company producing sports, entertainment and news-based Websites...
...APPLE? THAT WAS the loudest buzz question in Silicon Valley last week, as insiders tried to guess the outcome of talks over the possible merger of two icons of the digital revolution. Apple Computer and Sun Microsystems, two vastly different companies, were haggling over the buyout of Apple even as an Apple executive insisted that their company was "not for sale." But it was. Last Tuesday, Sun was said to be offering $33 a share, about the price at which Apple is trading on the stock market, or roughly $4 billion. By Thursday, Sun was reportedly offering $23 a share...
...well for very long. Biondi seems to have been the victim of another common business syndrome: an entrepreneur-owner's reluctance to hand over control to a successor. Redstone, who built his fortune from a chain of movie theaters, hired Biondi shortly after acquiring Viacom in a leveraged buyout in 1987. A Harvard M.B.A. and former chief executive at HBO, Biondi had a style that seemed to mesh well with that of the boss: Redstone, the volatile, confrontational owner; Biondi, the even-tempered manager--Redstone's "secret weapon," in the words of a New Yorker profile by Ken Auletta...
...offered buyout packages to some 78,000 managers, about half the company's supervisory force. The restructuring, which could cut as many as 20,000 jobs, comes as the telecommunications giant is breaking up into three companies...