Word: buyouts
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...remaining years on the job, he got a promotion from repair technician to business-marketing manager but then was told he had to relocate to San Francisco. Not wanting to leave the area he had called home for 22 years, Cotton opted for a $400,000 cash buyout. With the help of a financial planner, Cotton learned that he and his wife Stacy, 46, who earns about $55,000 a year as a nurse, not only could stay put but also had enough assets to move into a bigger home. He then gambled on a new career--as a mortgage...
...billion-dollar boondoggle designed to keep Russian scientists in employment and out of other nations' nuclear weapons programs. Capitol Hill, however, is more skeptical. "It's smoke and mirrors," said Rep. Tim Roemer (D-Ind.) of the House Science Committee. "What NASA has done is to propose a leveraged buyout of the Russian Space Agency." Wednesday's Science Committee meeting on the subject is likely to be ugly; Goldin would do well to offer free gifts and a money-back guarantee...
While the 1996 Act did touch off this buyout binge, it also allowed other competitors, including cable-TV firms, to enter the business. And on Wall Street, the big phone mergers are now regarded with skepticism (and some concern that Washington will intervene). Both GTE and Bell Atlantic stocks slipped last week. AT&T--which took a hit after announcing a merger with TCI--ticked up after the British Telecom deal...
FOUNDED Teddy Forstmann, philanthropist and leveraged-buyout genius, and his partners at Forstmann Little & Co. began this get-together several years...
...Trent Lott, meanwhile, was in his usual spoiler's role; his proposal to scrap price supports for tobacco farmers and replace them with a buyout program drew snipes from Democrats, who accused Lott of bursting the bipartisan bubble the bill had enjoyed thus far. Responded Lott: "If you don't want us to try to find a way to deal with children smoking and drug abuse by children . . . go right ahead." The upshot: this could take a while...