Word: darte
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Running Backs: The backfield might look a little strange this week. Regular QB Tom Yohe is gone. So is star halfback Tony Hinz. But Art ("The Dart") McMahon, who rushed for 126 yards against Brown, will be plugging away from the fullback spot. And Jim Reidy, who scored one of the Crimson's four touchdown last Saturday, will be dipping and gliding at his wingback position...
...stretch limousine and sporting a snow- white pompadour, Herbert Haft, 68, may look more like a Hollywood agent than a predator who strikes terror in the hearts of corporate executives. But the roster of giant retailers -- including the May department stores, Dayton Hudson and Safeway -- shaken up by his Dart Group (1987 revenues: $406 million), based in Landover, Md., has earned Haft and his eldest son Robert, 35, Dart's president, a reputation as two of the most feared raiders on the roiling retail scene. Just ask the 2,257-store Kroger grocery chain...
...onetime Washington pharmacist, Herbert Haft started the Dart discount- drugstore chain in 1952 and built it into a 74-store firm with annual revenues of $283 million. So expert was he at keeping costs (and, some say, service) to a minimum that after he sold the chain to its operating managers in 1984 for $160 million, the new owners took out newspaper ads to inform customers that the stores were no longer owned by the Hafts...
Flush with cash, Haft raised $250 million more in junk-bond financing for his Dart Group, which owns 262 Trak Auto and 212 Crown Books shops. Within a year, Dart mounted unsuccessful takeover campaigns for the May department stores, the Jack Eckerd drugstore chain and Beatrice. Profits on those raids: $13.2 million. The Hafts' biggest score came in October 1986, when the Safeway company paid Dart $59 million to go away, so that the chain's management could execute a $4.1 billion leveraged buyout of the firm. Dart's total take at the Safeway checkout stand: $137 million. Six months...
...were on the trail again by January, closing in on Stop & Shop. Kohlberg Kravis Roberts stepped in, as it had with Safeway, to help engineer a leveraged buyout, but the Hafts made $17 million dumping their stock as the price rose. Wall Street wags joked that Kohlberg should pay Dart a finder's fee for clients...