Word: buyout
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...corporations scrambling for cash shut down their pension plans and pocketed the so-called excess funds. Some clearly acted irresponsibly, imperiling the future security of aging members of the corporate family for quick financial gain. Others terminated the plans as a defensive measure against hostile takeovers, knowing that the buyout buzzards circling overhead saw the cash from their well-stocked pensioners' funds as a tempting target and were eager to pick them clean...
...appetite for acquisitions made Kohlberg Kravis Roberts the top takeover firm of the 1980s, but the no-deal '90s seemed to have stymied the buyout behemoth. Last week, however, KKR showed that it remains a powerful takeover force. In a deal that would give KKR a substantial interest in magazines, the firm led a partnership that included several former officers of the Macmillan publishing and information-services company in a tentative agreement to pay more than $600 million for nine U.S. publications owned by debt-laden media magnate Rupert Murdoch. The KKR group would acquire such titles as Seventeen...
Coffey denies that his relationships color how Calendar is edited; instead, he points to the hard-nosed pieces he has published detailing the behind-the- scenes negotiations that went into the Matsushita buyout of MCA and Sony's * purchase of Columbia Pictures. Coffey boosters contend that Calendar's emphasis on profiles and reviews simply makes the section more competitive with the highbrow arts and culture section of the New York Times, which began circulating its national edition in Los Angeles...
...began as a reporter-researcher for TIME in 1973, then became a writer. She eventually joined the Business section and was promoted last year to associate editor. During the past year, Castro has written major stories on the defense industry, the economic devastation of U.S. airlines and the Matsushita buyout...
...Despite Revlon's about-face, Perelman is said to be looking for a new owner for all or part of his cosmetics kingdom, spurred by that ghost from the good times: debt. The company still bears an uncomfortably heavy $2.1 billion of liabilities from the original buyout and more recent, high-profile acquisitions like Max Factor and Almay. Rumored shoppers include Paris-based L'Oreal and Cincinnati's Procter & Gamble...