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Word: rjr (lookup in dictionary) (lookup stats)
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Accepting defeat, Johnson issued a concession. Said he: "I am proud of the fact that we put the best bid on the table the first time and this time." He then returned with an attorney to RJR's 48th-floor New York offices in seemingly good spirits. As city lights glittered around them, the two men sipped drinks and munched Oreo cookies while reflecting on the day's ordeal...

Author: /time Magazine | Title: 250,000,000,000 Buyout Barons : KKR outfox Ross Johnson's group | 12/12/1988 | See Source »

Johnson could afford to be philosophical: he can now pull the rip cord on a "golden parachute" worth at least $30 million. Besides a lucrative severance package, Johnson will reap large profits from the sale of his more than 235,500 shares of RJR stock...

Author: /time Magazine | Title: 250,000,000,000 Buyout Barons : KKR outfox Ross Johnson's group | 12/12/1988 | See Source »

Kravis, meanwhile, could afford to be generous in victory. Though he may have to spin off some $6 billion worth of RJR food brands to reduce the leveraged company's swollen debt, he talked of shifting RJR headquarters from Atlanta, where Johnson moved it last year, back to its traditional home in Winston-Salem, N.C. Kravis said he will install retired RJR chairman J. Paul Sticht, 71, in the top job again for several months to smooth the transition...

Author: /time Magazine | Title: 250,000,000,000 Buyout Barons : KKR outfox Ross Johnson's group | 12/12/1988 | See Source »

...week's end Johnson and Kravis sent a letter to RJR Nabisco's 125,000 employees to announce the end of their struggle. "It is now most important," the letter stated, "that we return immediately and actively to running our business." For Johnson, that business will probably mean finding another...

Author: /time Magazine | Title: 250,000,000,000 Buyout Barons : KKR outfox Ross Johnson's group | 12/12/1988 | See Source »

BUSINESS: The buyout barons win RJR Nabisco...

Author: /time Magazine | Title: Time Magazine Contents PageVol. 132 No. 24 DECEMBER 12, 1988 | 12/12/1988 | See Source »

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