Word: rjr
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...such controversy was Harvard's investment in Kohlberg, Kravis, Roberts & Company, which took over RJR-Nabisco this fall in a leveraged buyout. Under the conditions of Harvard's agreement with KKR, the University did not have the right to refuse participation in the buyout or investment in RJR-Nabisco...
Since the RJR deal--the largest-ever leveraged buyout--critics from members of Congress to economic policymakers have questioned the ethics of such hostile takeovers...
Critics fault the Harvard Management Corporation (HMC) for contributing $20 to $40 million to a limited partnership of 70 investors whose funds were used in the $24.3 billion buyout of food and tobacco giant RJR Nabisco last November...
...ethical principles are no different than those of Wall Street traders," says Rob Weissman '88-'89, head of Harvard Watch, a group organized by consumer advocate Ralph Nader to monitor the University's investment activities. "Given the experience with the RJR takeover, this might be the ideal time for the University to review its policies...
...most sensational charge in J.A.M.A. is contained in a letter from researchers who claim that Premier, a cigarette-size cylinder that heats tobacco rather than burns it, can be used to smoke crack, the cocaine derivative. That one has lit a fuse at RJR. Last week research head G. Robert Di Marco attacked the accusations in J.A.M.A. as "distortions to further the political goals of its parent organization...