Word: revlon
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Dates: during 1990-1999
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...batteries. Sales of dolls are up. Power dressing is out. One sign: shoulder pads, standard issue for the female corporate warrior, are finally disappearing from women's clothing. Even designers are getting into the act: Donna Karan and Bill Blass offer more congenially priced ready-to-wear fashion lines. Revlon's Charles of the Ritz has sprouted the cheaper Ritz Express skin-care line (1 oz. of Perfect Finish makeup: $10, vs. $25 for an ounce of Revenescence liquid foundation...
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...
...repossessed, why not computer software? The Silicon Valley firm Logisticon, which has been locked in a dispute with Revlon over a $180,000 bill and licensing rights for custom software, decided that the cosmetics company should not use what it had not paid for. Without letting Revlon know in advance, Logisticon programmers used a telephone connection earlier this month to enter Revlon computers and disable the disputed software. The message got through. For three days, Revlon claims, hundreds of workers sat idle as two warehouses were unable to ship as much as $60 million in goods. "Software companies have...
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...