Word: riskier
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...make acquisitions," says Larry Gerbrandt, a vice president of Paul Kagan Associates, a California-based communications-industry analyst. "But in a tender offer like Paramount's, you have to load up with a tremendous amount of debt that limits your options. The strategy can work, but it's much riskier...
...stars as Danny Kaye, Imogene Coca, Alfred Drake and a young dancer named Jerome Robbins. This week -- 50 years later and four blocks south, at the Imperial Theater -- Broadway welcomes another revue, Jerome Robbins' Broadway, with another cast of young hopefuls. But everything else about this show is bigger, riskier and very late '80s. For one thing, its co-sponsor is a Japanese liquor firm. For another, it carries an all-time-high ticket price of $55. And the cost of its opening is $8 million, a thousand times that of The Straw Hat Revue...
They finally managed to do so by lowering their expectations, accepting family help and taking out a riskier form of mortgage. With a $15,000 contribution from their parents, the couple scraped together about $25,000 for the down payment on a $117,500 three-bedroom home that they bought last September in Skokie. "The house has no garage and no driveway," says Dribin. "The bathroom's miniature, and the whole place is smaller than our apartment." To finance the deal, the family took out a 7.75% adjustable-rate mortgage that can jump as much as 2 percentage points...
...year ago. General Motors Acceptance Corp., the biggest U.S. auto lender, repossessed 2.1% of its customers' cars in the nine months ending Sept. 30, which was 25% more than during all of 1987. One reason for the upsurge in bad loans is that auto lenders have gone after riskier customers, among them first-time car buyers and recent college graduates. Another problem is the longer term of today's auto loans: typically 48 or 60 months, instead of 36. Some buyers' cars fall in value faster than their loan balances, so they decide to give up the auto rather than...
...buyout binge produces some big-time losers as well, particularly investors who owned a company's top-quality bonds when the same firm's junk bonds hit the market. Since the new IOUs would saddle the company with a riskier load of debt, the old bonds get clobbered. No sooner had Johnson disclosed that he wanted to buy RJR Nabisco, for example, than the company's $5 billion of outstanding bonds lost 20% of their value. Furious bondholders, including Metropolitan Life and ITT, immediately sued for damages. Declared Metropolitan Life chairman Creedon: "No one in his right mind wants...