Word: rossing
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Dates: during 1980-1989
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...line for no better reason than abject short-term greed; still, buyouts are popular among today's large-scale financiers, people who are no longer innovative entrepreneurs who build companies from scratch, but tricky accountants who raise dividends any way they can. Now, following the example of Ross Johnson, the chief executive officer of RJR who tried to take over the company for himself, they don't work for the stockholders--they work for themselves...
...Ross Johnson had suspected he was heading for a fall. "They are not going to approve our bid," the RJR Nabisco president told TIME in an interview five days before his board of directors decided the giant company's fate. His foreboding was on target. On the night of Nov. 30, some 30 sleepless hours after the official bidding deadline had passed, the RJR directors named the winner in the biggest takeover wrangle in history. It was not the company's , president...
...outfoxes Ross Johnson in history' s biggest takeover tussle. The company will now have to dig out from a colossal load of debt. -- Interest rates hit the highest level in years...
ADMINISTRATION: Donald Sweet, Alan J. Abrams, Denise Brown, Teresa A. Foster, Helga Halaki, Katharine K. McNevin, Barbara Milberg, Rafael Soto, Carrie Ross Welch...
...Ogden, Anne Constable Paris: Christopher Redman, Margot Hornblower European Economic Correspondent: Adam Zagorin Bonn: James O. Jackson Rome: Cathy Booth Eastern Europe: Kenneth W. Banta Moscow: John Kohan, Ann Blackman Jerusalem: Jon D. Hull Cairo: Dean Fischer, David S. Jackson Nairobi: James Wilde Johannesburg: Bruce W. Nelan New Delhi: Ross H. Munro, Edward W. Desmond Beijing: Sandra Burton Hong Kong: William Stewart, Jay Branegan Tokyo: Barry Hillenbrand, Seiichi Kanise, Kumiko Makihara Central America: John Moody Mexico City: John Borrell Rio de Janeiro: Laura Lopez