Word: largest
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Dates: during 1980-1989
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...stock price has slipped from a 1987 high of $47 a share to less than $4; and it faces a class-action stockholder lawsuit. Last week came more bad news. A jury in Pinellas County ordered HSN to pay GTE $100 million in libel damages. That is the largest libel award in history...
...stock from shareholders, the Detroit company frantically sold one division after another to lighten its debt burden. To no avail: when it completes the sale of a subsidiary that makes wheels and brakes later this summer, Fruehauf, which had 1986 revenues of $2.7 billion and ranked among the 150 largest U.S. manufacturers, will be an empty shell existing in name only...
...leveraged buyouts place enormous strains on even the largest corporations. While all debt-laden acquisitions are risky, LBOs replace the stock on corporate balance sheets with loans that must be repaid, leaving executives with little room for error. "Running an LBO is different from running other companies," says Wilbur Ross, a senior managing director of Rothschild Inc., a New York City investment firm. "The reaction time at LBO companies has got to be a lot quicker, because they must generate cash fast enough to beat those interest-payment deadlines...
REVCO D.S. Back in 1986 it was the largest U.S. drugstore chain. Revco plunged into an LBO that year after Herbert Haft, chairman of the Dart Group of retailing companies, made a bid for the Twinsburg, Ohio-based firm. With advice from Salomon Brothers, Revco chairman Sidney Dworkin led a $1.3 billion LBO financed largely by junk bonds that paid more than 13% interest. The company then expanded its line of merchandise to include video players and ^ electronic appliances in the hope of boosting business. Bewildered customers began shopping elsewhere, and Revco fell short of its sales and earnings targets...
Since the 1960s, there has been almost no measurable progress in housing integration. In 1980 housing in the 16 metropolitan areas with the largest black populations was rated 80 on a 0-to-100 scale on which 100 meant total segregation. These discriminatory patterns cannot be explained only by black- white economic differences. In New York, Chicago and Detroit, black college graduates are about as likely to live in segregated neighborhoods as black high school dropouts...