Word: buyouts
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Gibbons is one of the several members of the University's proprietary guard force who accepted a buyout of their contract, a part of the recently completed negotiations between their union and the University...
...That buyout became effective midnight this morning. More than a dozen guards have already left as a part of the agreement, which was signed in July...
...contract signed by the guards, who are a part of a union representing the Fogg Museum guards and the Harvard parking attendants, contained a buyout option that about half of the security guards accepted...
...companies have already closed their vaults. General Motors, Monsanto, AlliedSignal and Ameritech swore off soft money in 1997 and have largely stuck to their decision. Wall Street buyout pioneer Jerome Kohlberg has formed an advocacy group that backs candidates who favor campaign-finance reform, and has assembled a cadre of retired corporate chieftains, plus mega-investor Warren Buffett, in support of the effort. "This is the first time a significant number of people in the business community have said enough is enough," says Charles Kolb, president of the Committee for Economic Development...
...reverse that for a moment. The entrepreneur is Howard Head, who created a metal ski and later an oversize tennis racquet, revolutionizing both sports. He sold his namesake company in 1971 to AMF, a conglomerate that was busted up in the mid-1980s. Head was sold to a leveraged buyout firm, Freeman Spogli, in 1989, which unloaded the struggling company on Austria Tabakwerke, a government-owned firm that bought Head to try to keep its manufacturing jobs in Austria. "They did even worse," says Johan Eliasch, a Swedish merchant banker who took over the company in 1996. "They threw money...