Word: buyouts
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Jack Kemp, George Bush's disgruntled Secretary of Housing and Urban Development, is one name being pushed hard in Perot circles. New York leveraged-buyout specialist Theodore Forstmann, a Kemp presidential fund raiser in 1988, is trying to broker a marriage between Kemp and Perot. Some of Kemp's political advisers argue that running with Perot represents Kemp's best chance to be elected President himself in 1996. Others counsel caution -- Kemp's favored political style -- contending that bolting the g.o.p. would permanently brand the supply-side conservative a pariah. Kemp's probable reluctance illustrates Perot's quandary in finding...
...Perot in 1974 to help dig him out of a disastrous attempted bailout of the Wall Street brokerage house of DuPont Glore Forgan. In 1984 Luce helped Perot negotiate the sale of his EDS computer-services company to GM; two years later, Luce settled a bitter dispute over the buyout of Perot's GM shares. To the general public, however, the Dallas attorney is better known for having been Perot's cerebral but lackluster political surrogate: when Luce ran unsuccessfully for Governor in 1990 as a moderate Republican, the joke was that Perot was too busy to do it himself...
...PEROT'S ALTER EGO AT EDS, the man who helped put the founder's ambitions into practice and stayed on top of the details. He started in 1965 as a trainee and left the company 21 years later as its vice chairman with more than $20 million from the buyout. Since then, Meyerson has invested his time in civic projects. He headed the group that sold the Federal Government on building the controversial $8.4 billion supercollider in Texas. He spearheaded the construction of the new symphony hall in Dallas, which is named after Meyerson because Perot made that a condition...
Even at General Motors, where he ridiculed other board members as "pet rocks," Perot had his fans. "I've never seen an executive so accessible to his own people," says former executive vice president Elmer Johnson, who negotiated Perot's $700 million buyout. "Maybe it's a little simplistic, like Ronald Reagan could be, but he knows how to prioritize and exactly where he wants to go." But the consensus is that Perot resorted too quickly to guerrilla tactics at GM, lobbing brickbats from the sidelines, rather than ever trying to build support on the board or enunciating a clear...
...much of the Chapter 11 period reorganizing its finances and closing weak stores. Macy's also got a new-management look last month when chairman Edward Finkelstein resigned after filing Chapter 11 papers in January. Finkelstein had come under increasing fire since using debt to achieve a $3.7 billion buyout of Macy's in 1986 and another $1.1 billion to acquire Bullock's and I. Magnin stores...