Word: rjr
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Dates: during 1980-1989
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Since putting his company in play six weeks ago, RJR Nabisco president Ross Johnson has refused all public comment. Last Friday he changed his mind and met with TIME senior correspondent Frederick Ungeheuer in Jupiter...
...Members of the RJR Nabisco board of directors have described you as an inside raider, because you initiated a leveraged buyout as the company's chief executive. What is your response...
...While you are going through the transition period it is. If you take 120,000 RJR Nabisco people, yes, there will be some dislocation. But the people that I have, particularly the Atlanta people, have very portable types of professions: accountants, lawyers, secretaries. It isn't that I would be putting them on the breadline. We have excellent severance arrangements...
...battle to control RJR Nabisco has pitted some of Wall Street's most powerful investment houses against one another, but the financial muscle behind the bidding is really the legacy of one man: Michael Milken. It is not just that Milken's firm, Drexel Burnham Lambert, is bankrolling the Kohlberg Kravis Roberts bid to the tune of $5 billion. Milken's role is much grander and far more controversial. The boyish moneyman with the tousled toupee and the obsessive work habits has almost single-handedly sparked the frenzy of takeovers and buyouts that has given the Roaring Eighties their name...
Connolly said RJR's promotion of smoking incountries such as China is responsible for "anepidemic of unknown proportions from tobacco usethat has me, as a graduate of the Harvard Schoolof Public Health, appalled that Harvard Universitywould be [part-owner of] a tobacco plant inChina...