Word: perelman
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When Manhattan financier Ronald Perelman bought control of Revlon in a decidedly hostile 1985 takeover, he promised the treatment usually offered to the beauty behemoth's customers -- a complete make-over. In the years following the death of founder Charles Revson, the legendary line's earnings and stock price had faded faster than a bad dye job. Perelman re-established Revlon as an industry leader by focusing on its best-known products: cosmetics...
...Despite Revlon's about-face, Perelman is said to be looking for a new owner for all or part of his cosmetics kingdom, spurred by that ghost from the good times: debt. The company still bears an uncomfortably heavy $2.1 billion of liabilities from the original buyout and more recent, high-profile acquisitions like Max Factor and Almay. Rumored shoppers include Paris-based L'Oreal and Cincinnati's Procter & Gamble...
Among those who took advantage of the year-end sale were some of the savviest business minds in the country: former Treasury Secretary William Simon, former Commerce Secretary Peter Peterson, Revlon chairman Ronald Perelman and financier Robert Bass. Simon was assisted in his low-cost purchase of a $1 billion California thrift by Preston Martin, who served as vice chairman of the Federal Reserve Board from...
...figures to stoke congressional ardor to find scapegoats for the S&L mess. The report will examine transactions during 1988, when private investors, at the government's request, scooped up troubled S&Ls and then received whopping federal subsidies for doing so. In 94 cases, entrepreneurs like Ronald ! Perelman, owner of Revlon, and Texas billionaire Robert Bass wound up reaping, on average, $78 for each dollar they invested. Some who received this windfall have argued that their intervention was cheaper than allowing the bankrupt S& Ls to pile up losses. The House and Senate have scheduled hearings to question whether...
...moved from "Page Six" at the Post to the I, Claudia column at the Daily News to her current bully pulpit, Live with Regis and Kathie Lee on ABC-TV. Along the way she vaulted into the ranks of privilege by marrying an A-list name, corporate raider Ron Perelman...