Word: buyout
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When he joined the Wall Street Journal in 1983, reporter Bryan Burrough could barely tell a buyout from a bailout. But Burrough, 29, co-author of the best seller Barbarians at the Gate, has become a formidable chronicler of Roaring Eighties-style shenanigans and greed. In a deal befitting a literary superstar, publisher HarperCollins last month agreed to pay Burrough $1 million for a book on American Express and the smear campaign it waged in the 1980s against international banker Edmond Safra. "I was absolutely stunned," Burrough said of the cash advance. "To me, the money is not a real...
...demon for detail, Burrough weaves suspense into his tales of high finance and intrigue. "I try to write somewhat the way a good murder mystery is written," he explains. "My stories sometimes read as if ((LBO king)) Henry Kravis were approaching with an ax instead of a buyout offer." Burrough may have hit the peak of fascination with 1980s whodunits. As the 1990s wear on, his agent Andrew Wylie says with literary disdain, readers are likely to become more interested in advice books on "how to stave off disaster...
...Limit the questionable investments of the University's high-paid money managers, whose actions are currently not subject to any ethical oversight. For example, Harvard played a major role in the billion-dollar RJR-Nabisco buyout and the similar leveraged buyout of Safeway, deals widely questioned for their treatment of workers and accumulation of debt...
...three years, United's employees have mounted one scheme after another to buy the airline, sending the stock bouncing as high as 290 and as low as 53. The collapse of a $6.8 billion buyout attempt last October triggered a stock- market minicrash. In April, United's board tentatively accepted a $4.4 billion deal proposed by the airline's employees. But last week, as an Aug. 9 financing deadline approached, several major banks withdrew from talks with United's would-be owners. One apparent concern: the ability of the employees to handle the huge debt involved. As the banks stepped...
...Forest Glen, Terry and Kathy Freiermuth have shaken up the Federal Government, which has responded by promising buyout offers to residents as well as financial aid from the Federal Emergency Management Agency...