Word: lbo
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...income: at least $180 million) and leveraged- buyout king Henry Kravis ($110 million) in third place. But who was this in the No. 2 position? A relatively unknown dealmaker named Gordon Cain, 77, took that spot by earning an estimated $120 million last year through his Houston LBO firm, Sterling Group...
Harvard was a limited partner in the largest LBO ever--the Kravis, Kolberg and Roberts takeover of RJR-Nabisco--and Lewis said that buyout was "very well conceived...
Lewis completed his first LBO in 1984, acquiring McCall Pattern Co. and selling it three years later for a 9000 percent profit. One month later, he managed the largest internatinal LBO in history, putting up $985 million for Beatrice International...
Other critics who are mainly concerned with the level of debt incurred in the LBO process have suggested that the tax deductibility be shifted towards cash expenditures rather than debt, thus encouraging LBO initiators to use money instead of loans...
...congressional source says he "wouldn't be surprised if nothing is done [about LBOs] on the Senate side" because people have drawn a negative connection between the 1987 stock market crash and a House resolution, passed five days before the crash, that halted LBO deductions over $5 million...