Word: raider
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Dates: during 1980-1989
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...Pennsylvania and New Jersey, will be shuttered next month because its current owners were unable to attract any suitable bids during its six weeks on the block. Though the chain was long past its glory years, it finally expired at the hands of George Herscu, an overleveraged Australian corporate raider whose L.J. Hooker Corp. bought B. Altman...
...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 180 degrees away from that topic...
...Roaring Eighties reach an end, the verdict on raiding is becoming clear. Defenders of the practice insist that raiders have made U.S. industry more competitive by forcing bloated companies to slim down and shape up. Yet the towering debt loads piled up during the raider era -- by both the attackers and the managers seeking to repel them -- have made many companies less flexible and far more vulnerable to an economic slump. While the merger- / and-acquisition game will no doubt carry on in the 1990s, such deals are apt to be less grandiose and more carefully wrought than the quick...
While Vukonich was doing his time, one young Red Raider fan leaned into the box to share a little wisdom with...
...scene began with five seconds left to play in the first period and Colgate defenseman Allan Brown serving time for a holding infraction. The teams were lining for a face-off to the right of the Red Raider goalie Dave Gagnon when Ciavaglia gave the signal...