Word: rjr
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...President-elect, in fact, seemed eager to guard his Administration in advance against any charge that it represents special interests. Some skeptics had already questioned Vernon Jordan's position as chairman of the transition, noting that Jordan is a director of cigarette-making RJR Nabisco, and wondering if he would help pick public health officials. Clinton answered firmly that he, not Jordan, would make those selections. On Friday the Clinton team announced unprecedentedly tough ethical standards for people working on the transition, and the President-elect is expected to follow this week with stricter rules yet for prospective Administration officials...
...Jewett '57, asking the college to adopt a policy on accepting funds from "companies whose products we do not want our students using. "This concern, which apparently was shared by members of the administration, seems strange after decades of University investment in South Africa and such worthy causes as RJR Nabisco...
Robinson's aggressive p.r. tactics have sometimes misfired. In the tangled fight for RJR Nabisco, she failed to soften the reckless bravado of client Ross Johnson in his abortive attempt to buy the food and tobacco company he headed. The defeat was a setback for her husband too. American Express's Shearson Lehman unit had bankrolled Johnson, and Jim Robinson had worked closely on the deal. More recently, she sought to portray Milken as a misunderstood benefactor of the poor. But the campaign had little impact on perceptions of the junk man, who is serving a 10-year sentence...
Such mergers are red meat to Wall Street, even if the fees they generate cannot match the profits from takeover wars. Investment bankers, lawyers and accountants raked in a staggering $1 billion for plotting strategy and raising the cash that enabled the buyout firm Kohlberg Kravitz Roberts to acquire RJR Nabisco for $25 billion in 1989. But the new deals are smaller and generally arranged by executives of the merger partners, so advisers play a smaller role and receive a correspondingly thinner slice of the overall purchase price...
...triumph came the same day that KKR's crown jewel, RJR Nabisco, reported its first quarterly profit since the grand acquisitor bought it for $25 billion in 1989. RJR eked out a $5 million gain for the first quarter of 1991, in contrast to a $222 million loss for the same period a year ago. The improvement reflected RJR's drive to reduce its towering interest expense...