Word: dealing
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Dates: during 1980-1989
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...buyout of Columbia Pictures when the Japanese were at it again. Last week Japan's largest communications ( concern, Fujisankei, paid $150 million to buy a 25% stake in Britain's hottest record company, Virgin Music Group. Fujisankei's holding is the biggest Japanese share in any British company. The deal will give Fujisankei, which owns the daily newspaper Sankei Shimbun and a music and video company called Pony Canyon, entree to the West. Says joint chairman Hiroaki Shikanai: "We want to dispatch our thoughts and our culture to the world...
Virgin founder and chairman Richard Branson has similar ideas about Japan, where his company could market records by such stars as Phil Collins, Paula Abdul and Ziggy Marley. Branson, 39, said the deal will "provide a springboard for our ambitions to become the world's No. 1 music group...
While Trump's grandstanding is becoming a self-parody, his financial clout is undeniable. The King of the Deal already owns the prestigious Plaza Hotel in Manhattan and two hotel-casinos in Atlantic City. Last May he paid floundering Eastern Airlines $365 million for its East Coast shuttle service, renamed it the Trump Shuttle, and now controls at least 40% of the market, in contrast to 26% when he took over. Trump has made huge killings by buying stakes in companies and leading other investors to believe he had an interest in a buyout, only to sell out after...
American's best defense seems likely to be an attack on the amount of debt needed to finance a takeover attempt. Trump, whose personal fortune is estimated at between $1 billion and $3 billion, has offered to put $1 billion of his own money into the deal. The rest would come from bank loans. Trump may get the money, but politicians and air-safety experts have alleged that highly leveraged carriers might be tempted to skimp on safety measures to maintain profits. AMR released a statement last week saying it "continues to believe that excess levels of debt...
...Gorbachev and the greenhouse effect, of global communications and AIDS, of mass famine and corporate imperialisms, of space exploration and the world's seas awash in plastic? The Age of Leisure and the Age of the Refugee coexist with the Age of Clones and the Age of the Deal. Time is fractured in the contemporaneous. We inhabit not one age but many ages simultaneously, from the Bronze to the Space. Did the Ayatullah Khomeini live in the same millennium as, say, Los Angeles...