Word: good
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Dates: during 1980-1989
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...improve their lot. Hope flared briefly in 1986, when Haitians rebelled and forced "President-for-Life" Jean-Claude Duvalier into exile. Since then, the government has changed hands three times, most recently last month, when a coup installed the regime of Lieut. General Prosper Avril. No matter how good Avril's intentions are, however, Haiti is so dirt poor, literally, that it may never flourish again...
...victorious candidate is sworn in, his wife dutifully holds the Bible, her gaze uplifted adoringly, and his children, sparkling with intelligence and good health, sit obediently nearby. Or do they? In the midst of this year's no-holds-barred campaign season, families of candidates high and low are beginning to change the old rules by candidly airing their grievances and trying to break out of cardboard caricatures. "They're still reticent," notes Stuart Hart, a psychologist at Purdue University. "But they're also standing up and saying, 'Hey, wait a minute, I've got needs...
...Shearson a $125 million "kill fee" to step aside. Cohen brushed off the idea as "personally insulting." Once serious talks began, the participants saw they had different strategies in mind. KKR preferred to sell the tobacco business to pay back the buyout loans and retain the food businesses, a good fit with the Safeway chain. Johnson's team wanted to keep the tobacco company and sell off Nabisco, Del Monte and the other non-tobacco parts of the business. Positions hardened shortly after , midnight Tuesday, when KKR partner Roberts made what may prove to be the most expensive personal gaffe...
...mammoth deal is completed, it will intensify the debate about whether leveraged buyouts are good or bad for American business. Proponents point out that the stock market has severely undervalued many companies. Thus the only way shareholders can get fair value for their investment is through a buyout. Another argument in favor of the trend is that by breaking up conglomerates, buyout specialists create more efficiently run businesses...
...what is good for shareholders and investment bankers is not necessarily good for the country. Certainly the thousands of workers who have been laid off as a result of KKR's deals see little virtue in leveraged buyouts. Top executives go along with or even instigate buyouts because as major shareholders they stand to profit. The resulting companies may be leaner, but often they are also weaker, with little money to invest in expansion or innovation. Says Michel David-Weill, the French senior managing partner of the Lazard Freres investment firm: "The wave of leveraged buyouts is weakening the competitiveness...