Word: dealing
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Dates: during 1980-1989
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From brutes to insects, in only 300 years: what an evolution for English thought! And in between, for the Aborigines, a long and melancholy history of invasion, resistance, murder, rape, rum and the destruction of tribal identity by white paternalism and greed. No indigenous people ever had a worse deal from European colonists...
They need not have worried: the deals are back -- and bigger and bolder than ever. Last week top executives at RJR Nabisco stunned Wall Street by proposing what would be the biggest takeover in U.S. history: a $17.6 billion leveraged buyout by management of the tobacco and food conglomerate. (Among its top brands: Winston cigarettes, Oreo cookies, Ritz crackers and Life Savers candy.) The RJR executives, with the help of the Shearson Lehman Hutton investment firm, hope to borrow close to $16 billion to finance the deal. If the transaction is completed, it would eclipse Chevron's $13.3 billion acquisition...
...Ross Johnson, the firm's chief executive, and Edward Horrigan, its vice chairman, an RJR Nabisco bid would take the firm private. The two men, who hold hefty chunks of RJR Nabisco stock, stand to make nearly $18 million each on the deal. While they will probably invest most of their profits in the new firm, that will do little to ease a projected $25 billion debt burden. To pay off the IOUs, RJR Nabisco will probably sell some of its divisions. The proposed deal must still be approved by a group of the firm's directors, but even...
...price of Kraft stock before the offer. To get a friendly match and outbid other possible suitors, Philip Morris may have to raise its bid to more than $100, according to Wall Street analysts. Says Hamish Maxwell, the Philip Morris chairman: "We're prepared to negotiate this deal...
According to Donald Welch, director of the Clackamas County juvenile - department, floggings were "systematic." Adult staff members, he said, would deal out up to 800 blows with "paddle, electrical cord or similar device," while other children looked on. Four adults, including two who delivered the dead girl to the firehouse, were charged with first-degree manslaughter and held in lieu of $250,000 bail. The children were placed in the protective custody of juvenile authorities...