Word: rjr
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...company back. He and billionaire investor Kirk Kerkorian are attempting to buy the No. 3 automaker for $22.8 billion. Their lavish, unsolicited $55 per share proposal -- more than 40 percent above yesterday's closing stock price -- would be the biggest U.S. corporate takeover since the $25 billion buyout of RJR Nabisco by Kohlberg Kravis Roberts in 1988. Today's surprise announcement boosted Chrysler stock and prompted Chairman Robert Eaton to scrap a scheduled New York auto show speech.TIME Detroit bureau chief William McWhirtersays Chrysler is well positioned to fight a takeover because of its profitability, as well as Eaton...
...warning on the back of R.J. Reynolds' new promotional video reads: "This video contains information about cigarettes and is intended for viewing only by smokers 21 years of age or older." It's nice to know RJR is concerned for the welfare of the under...
...whether IBM has truly developed a plan that will enable it to compete in the long run against feisty and fast-moving rivals at home and abroad. While chairman Louis Gerstner, 52, has revamped the company's finances in remarkably short order since he arrived a year ago from RJR Nabisco, observers both inside and outside IBM remain concerned about his lack of computer savvy. (At his first press conference after being named IBM chairman, Gerstner conceded that he did not know the brand of laptop he used.) Charles Ferguson, a consultant based in Cambridge, Massachusetts, and co- author...
Despite signs of an improving economy, the gloomy parade of corporate layoffs continues. RJR Nabisco will cut 6,000 employees, more than 9% of its work force, because of a devastating cigarette price war. Profitable Xerox will sever 10,000 employees, nearly 10% of its work force, to increase productivity...
...those who feed the ovens at the company's Pizza Hut, Taco Bell and KFC fast-food restaurants. Result: many people who survive layoffs and find new jobs nonetheless suffer a deep slash in income. One study found that of 2,000-odd workers let go by RJR Nabisco, 72% found jobs -- but at wages that averaged only 47% of their previous...