Word: buyouts
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...described the Weirton buyout as "a kind of homespun socialism." Rather, the story appears to be about a heartening attempt at grass-roots capitalism that could be good...
...also exciting because, as Bish points out, "our concessions are going to be to us, the owners." Not everyone may be willing to assume that responsibility. Only those 8,800 not yet laid off, mostly older people, can vote to approve any buyout. Workers with the greatest seniority are wary of jeopardizing their pension benefits, now as much as $25,000 a year. "I don't expect those still working to go along with any talk about making concessions," says Michael Shimko, 30, a laid-off chrome applicator...
...company's production facilities? The government announced the nationalization plan five years ago. So far, it has acquired only 60% of Aramco's $2 billion in refineries, pipelines and ports. Has Aramco persuaded the Saudis to go slow, since a full buyout would burden the four corporate shareholders with enormous U.S. capital gains taxes? Nonsense, say Saudi officials. They insist that the final take-over is imminent and would have no effect on the company's operations beause Aramco would continue to run them for a fee. But skeptics suggest that the takeover might already have been...
...Communications, the No. 2 MSO, with nearly 1 million subscribers, has been growing continuously since Rifkin put it together in 1968. During the last fiscal year, it increased revenues 34%, to $71 million, and profit 65%, to $10 million. At the end of 1978, Time Inc. completed a buyout of A.T.C. for a total price of $179.6 million. Among other things the acquisition added to A.T.C. the 100,000 subscribers of Manhattan Cable, which Time Inc. had bought earlier. Unlike Teleprompter, which is concentrating largely on adding subscribers in areas where it already operates, A.T.C. is eagerly bidding...
...North American company by a British or partly British firm so far this year; the British takeovers now amount to an aggregate investment of $1 billion. Such takeovers have become easier because the falling value of the dollar enables a British firm to put up fewer pounds for a buyout. Unilever, which had 1976 revenues of $14.8 billion, dwarfs National Starch, which posted 1976 sales of $339 million. But National Starch's industrial markets complement Unilever's lines of household products, which include Lifebuoy and Wisk, Pepsodent toothpaste and Lipton tea, and would make Unilever a little less...