Word: buys
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Dates: during 1980-1989
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Leveraged buyouts are an increasingly popular, though controversial, method of taking over companies. The deals--which included the recent, largest-ever takeover of RJR-Nabisco by a limited partnership in which Harvard invested--buy out stockholders in a company using borrowed funds worth up to 80 percent of the buyout price. Only about 20 percent of the investment generally comes in the form of cash up front, which means the company ends up assuming a large debt once the sale is completed...
MBTA spokesperson Peter Dimond said that the MBTA might restrict token sales if the increase is approved. Announcements of fare hikes in other cities have prompted concerns that passengers would hoard tokens. But Dimond said that the MBTA is not concerned about the possibility of passengers rushing to buy tokens at the present 60-cent price...
...governments have taken the lead in giving first-timers some help with financing. Earlier this month, Michigan Governor James Blanchard proposed the first state plan to help future home buyers save money for down payments. The program, which Blanchard hopes to begin this summer, will allow state residents to buy bonds that not only pay tax-free interest but are also guaranteed to keep up with housing costs. For example, a family that wanted to buy a type of house now costing $75,000 but likely to climb in price to $105,000 in five years would invest...
...Boston local members of the bricklayers union act as nonprofit housing developers. On low-cost land the bricklayers acquired from the city, they are building modestly priced homes that first-timers buy with mortgages subsidized by the state Home Ownership Opportunity Program. Eleanor Santosuosso, 45, will soon move -- along with her husband, three sons and her mother, 75 -- into a four-bedroom town house that the family won the right to buy for $97,000 in a lottery last year. Says she: "Even my mother says she has always dreamed of owning a home. She figured it was an impossible...
...book's protagonist, Jayson Lyman, is an investment banker who grips his peach-colored Financial Times "like a swagger stick." Advised by his boss that French magnate Marcel Bresson is out to buy News/Worldweek, Lyman is ready to leap to the American company's defense. "You mean foreigners, the French of all people, think they can take over the biggest media company in America? They'll get their butts kicked!" But Lyman's boss informs him that their firm has been retained by the other side...