Word: makers
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Dates: during 1980-1989
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StairMaster's success has inspired competitors, among them Bally, the maker of arcade games and slot machines. In June Bally subsidiary Life Fitness put out its Lifestep model for health clubs. It has large, easy-to-move pedals and an advanced computer screen that tells users how many calories they are burning at any given moment. The price: $3,395, in contrast to $2,195 for the StairMaster...
...partnership would have been unthinkable a few years ago. Sukhoi, the Soviet maker of military planes, and Gulfstream, the most prestigious name in U.S. corporate jets, are making tentative plans to build a supersonic business aircraft. In a $1 billion project, the two manufacturers hope to produce a jet that will fly at 1,500 m.p.h., twice the speed of sound, and carry as many as 20 passengers over a range of more than 5,600 miles. The plane would sell for about $50 million...
...want Altman's? I hate to say the store was old, but it was outmoded." KMO Realty Partners, which now owns Altman's real estate, controls the rights to the store's name. KMO will probably try to make some use of it, perhaps selling it to an apparel maker or retailer, but the B. Altman name will probably never grace another department store...
Since those heady days, a battle-weary Pickens has abandoned the U.S. takeover field and gone hunting in Japan. But he has been stymied in a drive to win four seats on the board of Koito Manufacturing, a Tokyo auto-parts maker in which he controls a 20% share. Pickens says Koito has hired Wall Street consultants to advise the company on how to keep him at bay. Meanwhile, a federal appeals court in Philadelphia last August reinstated a class-action suit that Phillips Petroleum shareholders brought against Pickens in 1984. The plaintiffs claim that the value of their stock...
Textile Titan. Many skeptical eyes are turned on William Farley, the physical-fitness buff who acquired Northwest Industries, the maker of Fruit of the Loom products, for $1 billion in 1985. Last February Farley took over textile giant West Point-Pepperell in a $3 billion raid that included $1.6 billion of junk-bond financing. A fellow raider calls Farley's debt a "time bomb." While Farley once joked that "we're doing fine, except that the banks expect us to pay them back," he now refuses to discuss his finances or the subject of raiding. Says he: "I'm staying...