Word: parental
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Dates: during 1980-1989
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...throw out the management, dismember the firm and sell off the pieces. But in other deals, including the proposed buyout of RJR Nabisco, the managers initiate the action. In one of the least controversial types of management buyouts, the executives of a particular division buy it from a larger parent company. These managers are out to prove they can run their own show -- and run it better than some sprawling conglomerate that has grown inattentive or slothlike in responding to the needs of its far-flung divisions. Some 1,100 units of U.S. companies have been acquired by their managers...
...executives who bought Nu-kote also felt ignored by their corporate parent. After the 1986 merger of the Burroughs and Sperry computer companies that produced Unisys, corporate headquarters decreed in a confidential memo that "ancillary" units would be put on the auction block. Reinhold Tischler, then president of the Nu-kote division, called his boss and said, "Ancillary division reporting in. We'd like to buy it." On Jan. 16, 1987 -- Tischler calls it Independence Day -- he and 20 other managers bought Nu-kote for $60 million. After they eliminated several aging product lines, overall sales grew 17% last year...
...think Solomon could solve the problems of Chelsea," says Carmella Oliver, a parent in the industrial Boston suburb. "Education is not a priority here." Luckily, it may not take a Solomon -- just nearby Boston University, which has offered to run the city's failing school system. The plan, now being debated by the seven-member Chelsea School Committee, could be ratified as soon as next month and go into effect this winter. When that happens, B.U. will become the first private institution in the U.S. to take over and manage a public school system...
...only one parent of the Ecclesia children has expressed a lack of confidence in Broussard or made any effort to return them to their homes. Broussard himself has vowed to make an all-out effort to regain custody of his young wards. Oregon officials are expected to oppose his effort with equal adamancy...
...trade-off for older parents, as Yale's Zigler notes, is probably "energy level vs. maturity." It may be that attentiveness and commitment to children will offset the disadvantages of age. "I am a parent, not an old parent," insists Los Angeles lawyer John Schulman, 42, father of a 2 1/2- year-old daughter. "I devote time, energy and love to my child." Says Zigler: "Good parenting is a process of bonding and attachment. This is more important than the age of the parent...