Word: chairman
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
Washington lawmakers readily recognize the populist sentiments aroused by the spectacle. "What's going on is corporate cannibalism," says Congressman Edward Markey. "We have to ask whether it is in the national interest to allow companies to go so heavily into debt." As chairman of a House subcommittee that covers finance, the Massachusetts Democrat will play a key role in drafting any legislation to curb LBO excesses when Congress reconvenes next year. But lawmakers are uncertain how to limit buyouts, or even if they should...
...turn out to be a useful testing of the limits: of greed, of debt, of dealmaking. The resulting outcry may prove an effective regulating device. "In its own way, the deal has been typically American, where nothing is in moderation, including the enormous selfishness of management," notes James Bere, chairman of Borg-Warner. "It's touched a nerve. Sometimes we have to do things in extremes before we can put the total in perspective." Without that perspective, the wages of greed may be a less productive and ever more debt-ridden economy...
...Congress cannot ignore growing public fears that greed, debt and buyouts are all spiraling out of control. "The dealmakers have gone too far," says Samuel Hayes, professor of finance at Harvard Business School. "They have defied that tolerance that allowed them their freedom." Federal Reserve chairman Greenspan urged the Senate in October to consider tax-law changes to curb the debt buildup. Said he: "The laws still provide substantial incentives to borrow...
Those who believe that the movement inflames nativist resentments got some ammunition this fall. The ethnocentric views of U.S. English's co-founder and former chairman John Tanton came to light when initiative opponents uncovered a 1986 memo in which he expressed worry that low white birthrates and high Hispanic birthrates would endanger American society. Wrote Tanton: "Perhaps this is the first instance in which those with their pants up are going to get caught by those with their pants down." Board member Linda Chavez, former staff director of the Civil Rights Commission and later candidate for the U.S. Senate...
...PRITZKER. The publicity-shy chairman of the Hyatt Corp., Pritzker, 66, with his brother Robert, 62, surprised both Kravis and Johnson by joining the First Boston investment firm in an informal last-minute bid for RJR Nabisco valued at as much as $27 billion. Allied with the Pritzkers is Philip Anschutz of Denver, a billionaire oil and mining magnate. They have since combined forces with an acknowledged master of the hostile game, HARRY GRAY, 69, the taciturn former chairman of United Technologies, who heads his own investment firm. The First Boston group is offering a highly complex package of cash...