Re: [TruthTalk] Smithson and Kruger

[Terry Clifton]

Judy Taylor wrote: In Barbarians at the Gate, the fall of RJR Nabisco - Here is the situation. The CEO's of some of these corporations get greedy and decide that making millions per year and having a fleet of their own jets - is not enough. They want to borrow money and buy the whole company. That is what we had here. The CEO Ross Johnson proposes a leveraged buy out (LBO) of RJR-Nabisco, which had previously merged. His idea is to borrow money and buy all the stock. So it is really a story about Ross Johnson and whether or not he could pull of this (theft) purchase from the shareholders by borrowing enough money. He is abetted by bankers and investment people, and they all want a piece of the action and large fees. It is all quite fascinating stuff. ================================================= No big deal.  Let him buy the company.  We can all make our own crackers until he is bankrupt.