Word: raider
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...allows executives to use borrowed money to acquire a firm. R.H. Macy, one of the most celebrated U.S. retailers, is putting together a similar plan. In entertainment, the American Broadcasting Co., whose treasures include Dynasty, is now the crown jewel of the Capital Cities Communications empire. In transportation, Corporate Raider Carl Icahn is flying off with...
...plight, post-Turner, shows how escaping a raider can still leave a company seriously wounded. To evade Turner, CBS spent some $1 billion to buy back 20% of its shares. Now the company is selling profitable TV affiliates and its toy division to repay its debt. To further cut costs, CBS fired 74 news-division employees in a single "Thursday massacre" and offered early retirement to 2,000 people...
...dozens of lawyers, bankers and investment advisers who work on deals can pass information along to colleagues, friends and relatives. A secretary who types a prospectus or contract can do the same. It may thus be virtually impossible to keep news from seeping out once a raider begins lining up financing for a deal, or two firms start talking merger...
Plastering Red Raider goalie Dan Delianedis with 54 shots last night, the Crimson gave every indication that it is ready...
...five unions. Frontier's employees, though, were anxious to avoid dealing with Lorenzo, whom they consider anti-union. In 1981, he bought Continental Airlines and two years later declared bankruptcy in order to get out of costly union contracts. In August, TWA's unions joined forces with Corporate Raider Carl Icahn to block Lorenzo's attempt to take over that airline. Says Lorraine Loflin, president of Frontier's flight attendants union: "We had directives from the membership that Lorenzo was not acceptable." The unions, which had given $32 million in wage concessions while trying to take over Frontier, said they...