Word: teller
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Dates: during 1980-1989
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...activist and peace advocate. In the 1940s and 1950s, he lived under security wraps as the Soviet Union's top nuclear scientist, cut off from all normal social contacts and followed at all times by a bodyguard. A theoretical physicist ranking with America's J. Robert Oppenheimer and Edward Teller, he was the youngest person ever elected to the Soviet Academy of Sciences. After he helped develop the Soviet Union's hydrogen bomb in the early 1950s, he became one of the country's most decorated men. But he remained unknown because his honors were bestowed in secret. In those...
...Australia, made a fortune as a homebuilder and became famous for his flashy style. (His mansion is designed to look like Tara in Gone With the Wind.) He decided that U.S. retailing was a glamorous and growing business, so his Hooker Corp. bought B. Altman and the Bonwit Teller chain, which has grown to 17 stores, for $150 million...
Upscale department-store chains have been among the most fashionable U.S. targets for foreign investors. Like well-heeled Christmas shoppers, they scooped up some of the most famous names in American retailing, from Bloomingdale's to Bonwit Teller. Now several store chains are suddenly up for sale again, creating a sense of turmoil in retailing just as it heads into its busiest season...
...last month to relinquish control of his retailing empire and put the 17-store Bloomingdale's chain up for sale. In August Australian raider George Herscu put his U.S. retailing subsidiary into bankruptcy after becoming overwhelmed by its $1.2 billion takeover debt. Herscu may well have to sell Bonwit Teller (stores: 16) and B. Altman (7), which he acquired...
Campeau had created problems for himself at a headlong pace. Even as he scooped up retailers, Campeau made plans to build dozens of big department stores. While he spun off such acquisitions as Brooks Brothers and Bonwit Teller to pay part of his $11 billion debt, he insisted that his remaining chains could churn out enough cash to make interest payments, finance expansion and yield profits as well. Instead, the cash registers rang slowly as the retailing industry suffered from stagnant consumer spending...