Word: nabisco
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...made for the shareholders. In a disastrous year, there were, as the annual reports say, a number of factors. If top executives mess up so badly that they have to be canned, they get paid for that too. (F. Ross Johnson, who botched the leveraged buyout of RJR-Nabisco badly enough to lose the entire company, was handed $53 million on his way out the door.) Top executives of major corporations are the only Americans who do business in a totally risk-free environment...
Icahn, 69, hasn't mellowed a bit since his corporate-raider days in the 1980s, when he made millions of dollars buying stock and forcing asset sales, stock buybacks and special dividends by the likes of Texaco and Phillips Petroleum. In the '90s, with notable exceptions like RJR Nabisco (in which he bought a stake and pushed the company to break up), he operated more quietly, in beaten-down areas of the bond market. But now he's back on the big stage rattling major corporations--and loving...
...trip for many voyagers was as hair-raising as a Snake River rafting expedition. In 1985 a parade of slumps, scandals, panics and just plain goofs rocked the business world. All the while, an unprecedented wave of acquisitions was swallowing up such well-known corporate names as ABC, RCA, Nabisco, General Foods and Revlon...
Walter M. Cabot ’55, Meyer’s predecessor at HMC and its founder, had taken on increasing criticism in the late 1980s for declining investment returns and controversial positions in RJR Nabisco and Lomas Financial Co., among others...
Tobacco companies have not been standing by doing nothing as their stocks go down. Philip Morris, in buying General Foods, and R.J. Reynolds, in taking over Nabisco, have made dramatic moves that will change the structure of those companies. Philip Morris, which had earlier acquired Miller Brewing and Seven-Up, will now become the largest U.S. consumer-products manufacturer, with sales of more than $23 billion. Reynolds, owner of Kentucky Fried Chicken and Del Monte foods, will be close behind. Its revenues will exceed $19 billion. Since both cigarettes and food are sold in grocery stores and supermarkets and both...