Word: raider
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Holmes a Court was not at the meeting to announce yet another daring takeover but to concede the end of his boldest dream. In just eight minutes, the raider crisply laid out plans for his Bell Resources company to sell -- at a $206 million loss -- most of its 28% stake in Broken Hill Proprietary, Australia's largest company (1987 revenues: $6 billion). Holmes a Court had patiently stalked BHP, a vast mineral and energy conglomerate, for nearly five years, aiming to use the company as the foundation for a global natural- resources empire. His decision to sell was poignant evidence...
...stock, rather than outright ownership of plants, equipment and other hard assets. Half of the Bell Group's pre-October assets of $1.8 billion, for instance, were made up of corporate shareholdings. "We were overexposed to the world's stock markets," Holmes a Court has conceded. Moreover, since the raider did not own controlling interest in those corporations, he was unable to tap their corporate credit lines to get infusions of new money. Said he: "Our money was tied up without getting cash flow or profits...
...daily Australian Financial Review: "The savage write-downs . . . are no more than tough-minded demolition and site clearing to facilitate clean rebuilding of the group." In fact, Holmes a Court may thrive once again as the lord of a humbler empire, but his brief reign as a globe-straddling raider appears to be finished for good...
...Millham will be guarding the net for Vermont. He set a new Vermont record with a 2.76 g.a.a. in ECAC regular-season play. This mark placed him second among all ECAC goalies. Last weekend, he shutout Colgate in the first game, 8-0, and then turned away the Red Raider charge at the end of the second game, preserving...
Most Tasteless Fans: Colgate. When Crimson freshman John Weisbrod was hurt up in Hamilton, N.Y., the Raider fans started a count down, like a boxing referee...