Word: buyouts
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Dates: during 1980-1989
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...fanfare had barely quieted down after Sony's buyout of Columbia Pictures when the Japanese were at it again. Last week Japan's largest communications ( concern, Fujisankei, paid $150 million to buy a 25% stake in Britain's hottest record company, Virgin Music Group. Fujisankei's holding is the biggest Japanese share in any British company. The deal will give Fujisankei, which owns the daily newspaper Sankei Shimbun and a music and video company called Pony Canyon, entree to the West. Says joint chairman Hiroaki Shikanai: "We want to dispatch our thoughts and our culture to the world...
...East Coast shuttle service, renamed it the Trump Shuttle, and now controls at least 40% of the market, in contrast to 26% when he took over. Trump has made huge killings by buying stakes in companies and leading other investors to believe he had an interest in a buyout, only to sell out after the stock price rose. Among his targets have been Golden Nugget, Pillsbury and Federated Department Stores. But because he has made an outright offer this time, analysts tend to think this is no bluff. "If the bid weren't serious, it wouldn...
COMMUNICATION BREAKDOWN. John Nevin, the crusty chairman of Firestone, gives credit to Japan's Bridgestone for bailing out his company with a $2.6 billion buyout last year. But that has not removed the vast differences in the ways the two companies communicate. "I'm seen as terribly abrupt and abrasive," says Nevin. "If you're very direct, you're admired in American culture. The Japanese culture is much more subtle. I can never get them to tell me what they actually mean, and they may think I'm rude and crass. But both sides are only behaving in ways familiar...
...takeover may help inflame growing U.S. anxiety about foreign investment in American companies. Last week the U.S. Department of Transportation persuaded Alfred Checchi, who led a $3.6 billion buyout of Northwest Airlines, to reduce the participation by KLM Royal Dutch Airlines in the deal from $400 million to $175 million. DOT officials said they would also scrutinize plans by British Airways to invest $750 million in the $6.8 billion employee purchase of United Airlines. Transportation officials said one concern is that foreign investors might share inside knowledge about U.S. airlines with their own governments, thus undercutting U.S. negotiations with other...
...airline-buyout binge raises fears that maintenance could suffer. -- Robert Campeau puts Bloomingdale's up for sale as his leveraged empire starts to crumble...