Word: buyouts
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...site’s value, but won’t say what it is. Typically, companies like TheFacebook meet multimillion dollar offers. According to the San Jose Mercury News—Silicon Valley’s newspaper of choice—Friendster passed on a $30 million buyout offer from Google in 2003. Friendster founder Jonathan Abrams—who would not confirm the $30 million figure—says the company had two million users at the time. Today, TheFacebook has 1.5 million users, 90 percent of whom visit the site at least once a week...
...interactive TV ads, and he believes that "the Web is the future" for his industry. Testa, who took the reins after the death of his father and company namesake, has made the Armando Testa Agency Europe's largest independent ad firm by doubling revenues. He continues to fend off buyout offers, convinced that independence breeds creativity. "Once you're listed on the stock exchange, you have to play according to different rules," he says. --By Jeff Israely...
What really worries manufacturers is wobbly Toys "R" Us. The retailer recently put its toy stores up for sale and plans to focus on its fast-growing and less seasonal Babies "R" Us stores. Buyout firms are circling--quite the comeuppance for a company once feared as the Darth Vader of mom-and-pop toy shops (a helmet now worn by Wal-Mart). Analysts expect dozens if not hundreds of Toys "R" Us stores to close next year--funneling more shoppers to the discounters where they can just as easily pop a Harry Potter DVD in the cart and scrap...
...were basically forced out of there,” Peter Skillman says of last summer’s Allied deal. “We got up to the police station, and they turned around and said they were giving us a buyout. Our union and [Harvard University Police Department Chief Riley] said we should take it, because this was it. ‘If you don’t take it,’ they said, ‘you’re out of here anyhow.’ But I wanted to finish up my remaining years...
Allied-Burton, meanwhile, already had guards at the Business School, and kept winning other contract bids. Last spring, it became the University’s largest provider of security after its buyout of Security Systems Inc. It was then that the last seven in-house security guards in the union were “bought out,” in Skillman’s words. They were told to choose between jobs with Allied and lucrative severance packages, even though there were two more years left in their contract with the University...