Word: rjr
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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...
Administrators have said that Harvard had a"contractual commitment" to participate in thetakeover. However, one investor, the Common-wealthof Massachusetts pension fund, successfullyrefused to allow its funds to be used in thebuyout, citing RJR's involvement in South Africa...
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...