Word: tobacco
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Dates: during 1980-1989
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When Ross Johnson, flamboyant head of RJR Nabisco, lost his bid for control of the giant food and tobacco company in a $25 billion leveraged-buyout brawl last year, he also lost his job. Last week RJR's new owner, the buyout firm Kohlberg Kravis Roberts, announced its surprise choice for Johnson's replacement: Louis Gerstner, 47, marketing maven and president of American Express...
Gerstner, who was widely expected to succeed American Express Chairman James Robinson, 53, has never run a tobacco business. But KKR partner Henry Kravis chose Gerstner for his prowess as a strategic planner. Among other accomplishments, Gerstner launched the successful Platinum card. As chairman at RJR Nabisco, he will have to engineer the sale of about $8 billion in assets to pay off some of KKR's buyout borrowings. But his compensation will be as tall as his task: as much as $45 million over five years...
...imports offered a solution. Stephen Higgins, director of the Bureau of Alcohol, Tobacco and Firearms, had been alarmed by the increase in foreign imports of semiautomatics: from only 4,000 in 1986, requests jumped to 40,000 in 1987, to 44,000 in 1988. In just the first three months of this year, there were 113,732 requests from foreign importers to bring the weapons into the U.S. Two weeks ago, Higgins supplied William Bennett, the Administration's designated director of national drug policy, with the startling statistics...
Others viewed the findings with caution, noting that a cause-and-effect relationship between passive smoking and cervical cancer remains to be shown. Still, declared Lawrence Garfinkel, an epidemiologist at the American Cancer Society, "cervical cancer should probably be added to the list of tobacco- induced cancers...
...accord with their rigorous faith, the clean-cut singers perform no non- Christian material onstage and book no secular dates after sundown each Friday because of their church's Jewish-style Sabbath observance. They shun alcohol and tobacco and try to maintain daily devotionals and to give one- tenth of their income to the church...