Word: selling
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Dates: during 1980-1989
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...still blame the loss on liberalism. But any true Democrat will be characterized as a liberal--that is the strength and heritage of the Democratic Party. Dukakis tried to run away from this heritage and posed as a moderate; as he learned, fudging a resume doesn’t sell in presidential politics...
Schorner has just opened his own rose-pink confection of a bakery-cafe, Patisserie Cafe Didier, in Washington's Georgetown, where chocolate cake ($2.50 a slice) and cream-puff swans ($2 each) are among the offerings. "Desserts sell better when they are beautiful," he notes, "so decorating is important...
...begin with, KKR charges investors in its buyout funds annual management fees amounting to 1.5% of their investments. Companies taken private by KKR pay the firm 1% to 2% of the purchase price for handling the transaction. But the really big money rolls in when KKR starts to sell off divisions of the companies it acquires. So far, KKR has taken in $7 billion by unloading parts of Beatrice. In recent years the investors in KKR's buyout funds have earned annual returns of about 30%. Says James George, manager of Oregon's $9 billion public-employee retirement fund, which...
Early on, KKR reportedly offered Shearson a $125 million "kill fee" to step aside. Cohen brushed off the idea as "personally insulting." Once serious talks began, the participants saw they had different strategies in mind. KKR preferred to sell the tobacco business to pay back the buyout loans and retain the food businesses, a good fit with the Safeway chain. Johnson's team wanted to keep the tobacco company and sell off Nabisco, Del Monte and the other non-tobacco parts of the business. Positions hardened shortly after , midnight Tuesday, when KKR partner Roberts made what may prove...
Leveraged buyouts come in many different varieties. In some cases, corporate raiders snap up a company with borrowed money, then throw out the management, dismember the firm and sell off the pieces. But in other deals, including the proposed buyout of RJR Nabisco, the managers initiate the action. In one of the least controversial types of management buyouts, the executives of a particular division buy it from a larger parent company. These managers are out to prove they can run their own show -- and run it better than some sprawling conglomerate that has grown inattentive or slothlike in responding...