Word: nabisco
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Dates: during 1990-1999
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...triumph came the same day that KKR's crown jewel, RJR Nabisco, reported its first quarterly profit since the grand acquisitor bought it for $25 billion in 1989. RJR eked out a $5 million gain for the first quarter of 1991, in contrast to a $222 million loss for the same period a year ago. The improvement reflected RJR's drive to reduce its towering interest expense...
...Your Chairman displayed exquisite timing," he writes about his purchase of a large stake in USAir. "I plunged into the business at almost the exact moment that it ran into severe problems." Buffett also notes his purchase since late 1989 of $440 million of RJR Nabisco junk bonds. A crazy investment? He acknowledges that he's leery of new issues of junk bonds ("The only time to buy these is on a day with no y in it"), but the RJR bonds have been traded for a while -- and Buffett says their market value has increased $150 million since...
More POISONING OF AMERICA ads followed, and when Nabisco failed to budge, Sokolof singled it out, concluding, "The American public deserves better from its largest food processor." The following day a Nabisco executive called Sokolof to assure him that the giant company would hasten the reformulation of its products...
...feel that I have developed a rapport with the American public," Sokolof says. "They like the fact that a little guy in Omaha is sitting here and taking on Nabisco, a $25 billion corporation. I've had some success, and I've made a lot of money, but compared with Nabisco, I'm a pimple on an elephant's fanny...
...When you put a celebrity on a can of merchandise, that's an endorsement," says Steven Ames Brown, who is representing both Rogers and Astaire's estate. Nabisco Brands, insisting that the design depicts "two unidentified dancers," says the suit is "without merit...