Word: kroger
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Mutual funds own 30% of all junk bonds. Funds that promise "high income" or "high yield" are generally the ones that invest heavily in junk. Most prudent fund managers have been switching during the past year to more creditworthy issues, including Kroger and Fort Howard Paper. Yet the depressed market value of most junk securities means that fund investors who sell out now "will take some pretty substantial losses," according to Brian Ternoey, an employee-benefits consultant in Princeton, N.J., who advises clients to wait for the market to rebound...
Borrowing an idea from British police who noted a decline in shoplifting when life-size cutouts of bobbies were placed in stores, three Kroger food stores in Dallas have installed "scarecrooks" in high-theft areas on their shopping floors. Under each 6-ft. cardboard cutout is the slogan SHOPLIFTING IS A CRIME. Though no would-be thief is likely to mistake the cardboard coppers for the real thing, the cutouts help convey the message that pilfering is illegal. Says Kroger security director Charlie Tyner, "It's a startling way to say the same old thing...
Have a conversation with Sawyer, and you cannot help coming away impressed. Intelligent, articulate, polished -- and a bit calculated. (She calls a reporter at home to amend her earlier list of favorite reading: add Doctorow's Billy Bathgate and Mann's Tonio Kroger to a shelf that already features Flaubert, Henry James and John Fowles.) In earnest, carefully molded sentences, she strives to dispel the notion that she is strictly a TV creation. "I really love what you learn every day in the business," she says. "I love the breathtaking way we walk into people's lives and ask them...
Very few firms these days are big enough to be safe from takeovers. This year alone, such familiar institutions as Kroger, Polaroid and Bloomingdale's (Federated Department Stores) have come under attack. One reason for the buyout binge is the amount of money available for acquisitions. Private investors have guaranteed more than $30 billion in capital to large takeover funds, providing would-be raiders with the capital to mount their attacks. Kohlberg, Kravis, Roberts, an investment firm with $5.6 billion for use in takeovers, is a leader in the field. Since the takeover funds can borrow against their capital, they...
Four days after the Hafts offered to buy the Cincinnati-based company (1987 revenues: $17.7 billion) two weeks ago, Kroger's board approved a sweeping $4.6 billion restructuring plan. Spurning the $4.4 billion Haft bid, as well as a follow-up $4.6 billion offer from Kohlberg Kravis Roberts, a New York City investment firm, Kroger's management proposed to sell off dozens of properties, slash costs and offer its stockholders cash and bonds worth up to $60 a share. Says Kroger CEO Lyle Everingham: "The company is not for sale...