Word: herbert
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WISCONSIN. Democrat William Proxmire used to pay the $145 filing fee, and that constituted his total campaign expenditure. This year it cost supermarket magnate Herbert Kohl $3 million of his own money just to succeed the retiring Proxmire as the Democratic nominee. Kohl, owner of the Milwaukee Bucks . basketball team, makes a virtue of his wealth: "a Senator just for you." He will face the only woman nominated for a Senate seat this year, Susan Engeleiter, a moderate who is Republican leader of the state senate...
Tooling around Washington in his black 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...
Last month a federal jury found that Bunker and Herbert, along with their brother Lamar, had conspired to corner the silver market in 1980. The court ordered them to pay a judgment of more than $130 million to a Peruvian mineral-marketing company that lost money in the debacle. The verdict could hurt the Hunts' chances in two class actions filed by 17,000 other silver investors. While appealing the judgment, the Hunts are required to post a $225 million bond, which might force them to hold a garage sale of some of their most prized belongings. The brothers hope...
Ironically, the most conservative President since Herbert Hoover has found his veto power no more effective than a thumb in the dike in stanching a flood of progressive (the "L" word is no longer used in capital environs) legislation. By the time Congress adjourns in mid-October, it will have compiled a record in passing landmark activist legislation exceeded in recent years only by the Great Society 89th Congress of 1965 and 1966. Says House Speaker Jim Wright by way of explanation: "There were pent-up needs too long deferred." Adds Senate Majority Leader Robert Byrd: "We were too long...