Word: salomon
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...last month after a 1988 inspection turned up a list of maintenance problems, officials contend that the carrier has an ample cash flow to repay its debt without lowering its maintenance standards. Wall Street analysts tend to accept such views. Says Julius Maldutis, who follows the industry for Salomon Brothers: "I don't believe that any responsible management would hinder maintenance as a result of leveraged buyouts...
REVCO D.S. Back in 1986 it was the largest U.S. drugstore chain. Revco plunged into an LBO that year after Herbert Haft, chairman of the Dart Group of retailing companies, made a bid for the Twinsburg, Ohio-based firm. With advice from Salomon Brothers, Revco chairman Sidney Dworkin led a $1.3 billion LBO financed largely by junk bonds that paid more than 13% interest. The company then expanded its line of merchandise to include video players and ^ electronic appliances in the hope of boosting business. Bewildered customers began shopping elsewhere, and Revco fell short of its sales and earnings targets...
...York Stock Exchange when he abruptly unloaded his 17.3% stake, or 42 million shares, for $2.07 billion (his profit: $600 million). The sale, which ranked as the largest single trade in Big Board history, was so unwieldy that three investment firms -- Shearson Lehman Hutton, Goldman, Sachs and Salomon Brothers -- teamed up to buy the shares. The bombshell transaction freed Icahn to prowl once more, setting off speculation that he would make another move to take over USX. Icahn owns some 29 million shares of the oil-and-steel concern, or 11.4%, worth about $1 billion. But so far, Icahn refuses...
...airlines' arsenals, perhaps the most powerful is one that never leaves the ground: the computerized reservation system. More potent than frequent-flyer programs or discount fares, these systems have become vital to an airline's ability to compete and survive. Says Julius Maldutis, who follows the industry for the Salomon Brothers investment firm: "Automated reservation systems are dividing the industry into the haves and have-nots. Those with them are becoming the big eagles. Those without, sitting ducks...
...Emerson hall speech before about 40 students, Salvadoran activists Salomon Alfaro Estrada and Rene Hernandez appeared on behalf of the Farabundo Marti National Liberation Front (FMLN). The pair is touring U.S. universities to inform American students about the Salvadoran political crisis...