Word: kroh
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...shine a feeble light down the corridors of what to many students has felt like a concentration camp run by sadists. No wonder all the disenfranchised kids in high school feel safer! It's not about metal detectors and searches--it's about finally stopping the bullies. STEPHEN KROH Dallas...
...that heady atmosphere, the Krohs became involved in a tangle of overlapping partnerships and took on mortgages and other liabilities that no one fully grasped. Donald Jones, a longtime Kroh senior executive who is now president of the firm, recalls that company officials were often stunned when obligations they had not known about came due. Says a bitter John Kroh Sr., 82, who retired as head of the company in 1969 and handed over control to Sons John and George: "They just stopped watching the cash register...
...last December, Kroh Development was $850 million in debt, work in four states was stalled, and the firm was facing dozens of lawsuits from lenders, partners, subcontractors and tenants. Bumper stickers appeared in Kansas City reading HONK IF YOU'VE BEEN KROHED. After the firm's lenders refused to extend more credit, the brothers agreed to let Jones head the company...
...months of restructuring, the company has pulled out of 75 projects, liquidated $650 million in debts and reduced its payroll by more than 80%. As Jones works to save a few of the firm's 47 remaining properties, he still occupies a handsome suite of offices in Kroh's five-story headquarters building on Ward Parkway. But on the chair in which he sits is a little white tag that reads PROPERTY TEXTRON FINANCIAL CORPORATION, IRVINE, CALIFORNIA. That chair, along with nearly every other piece of furniture in Kroh headquarters, is leased, and must be returned to Textron unless...
...imports rise, the U. S. may face another energy shock. -- The Kroh real estate empire collapses. -- Should quotas be auctioned...