Word: majored
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Dates: during 1980-1989
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...Life Insurance company, which is suing RJR because the potential buyout has undermined the value of all bonds that the food and tobacco company sold before the announcement. Not everyone was alarmed. Said Harry D'Angelo, a finance professor at the University of Michigan: "I don't see any major social dangers. The real challenges have been to the conventional wisdom that large numbers of shareholders provided the best means of financing industry...
...Nabisco, the benefits of LBOs were hardly lost on Johnson. Born in Winnipeg, Man., he had parlayed a keen eye for a deal and the nerves of a gunslinger into the top job at three major corporations. He was president of Standard Brands, the producer of Planters nuts and Baby Ruth candy bars, when it merged with Nabisco in 1981. Four years later, as Nabisco's president, Johnson sold out to RJR Reynolds for $4.9 billion and soon became president of the merged company. After adding the title of chief executive officer in 1987, he swiftly moved RJR Nabisco headquarters...
...borrowings. The shortage of investment can then dampen U.S. growth and damage the ability of American firms to compete abroad. In a slump, the impact can be dramatic. A study by the Washington-based Brookings Institution, a liberal think tank, estimated that a new recession could jolt 10% of major U.S. companies into bankruptcy...
...Indiana: "There is a limit to what managers ought to be paid for managing other people's money." Adds a top executive involved in a current takeover: "The yardstick for compensation has just gotten twelve inches longer. The chief executive who's doing a first-class job running a major U.S. corporation for $890,000 a year is going to start thinking he's some kind of a fool...
...Brent Scowcroft, named last week as Bush's National Security Adviser, was a member of the team that concocted the Ford-Carter American Agenda. Richard Darman, whom Bush tapped as head of the Office of Management and Budget, is a trustee of the Brookings Institution, which has produced two major transition reports...