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  1. Koopopties
  2. Barbarians at the Gate Business & Investing The Fall of RJR Nabisco mydepceitio.tk
  3. The Fall of RJR Nabisco Barbarians at the Gate Books

RJR Nabisco, which had been trading in the mid-sixties the week before, plunged into the low forties by midday. In December the company posted a 25 percent profit increase, and the Street ignored it.

Koopopties

Even when food stocks rose that winter, RJR Nabisco remained in the dumps. No matter what Johnson did, buyers treated his stock like a tobacco stock, even though 60 percent of its sales came from Nabisco and Del Monte. In Atlanta, Johnson simmered. Like many chief executives, he considered his stock price something of a report card.

As he watched other food stocks soar, Johnson felt like a wallflower at the orgy. If the business he knew best was hot, Johnson was determined to be a player. He began pondering the possibility of linking up with a food company. His first thought was Pillsbury. It was an unstable situation, his favorite kind, with takeover speculation swirling around a chief executive just come out of retirement.

He was a seller, not a buyer. He considered a joint venture. Why not combine Pillsbury and Nabisco, sell its stock to the public, and thereby highlight the remaining food assets inside RJR Nabisco? Johnson tossed the idea to Sage and Benevento, who were hugely unimpressed.

Barbarians at the Gate Business & Investing The Fall of RJR Nabisco mydepceitio.tk

Pillsbury was a dog, they said, its core businesses anemic. A thought struck him. General Motors, faced with a similar problem, had created separate classes of stock for the parent company and its Hughes Aircraft and Electronic Data Systems units. If Johnson was worried that tobacco was dragging down the price of his food stock, why not make them trade as separate securities?

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They tacked it on the end of the memo. When Johnson saw it he shrugged, then gave Benevento the go-ahead to look at the dual-stock plan. It's a great read though and really hard to put down. This should be mandatory reading for anyone interested in understanding the current financial world.

The authors write a gripping account of the outsized personalities and egos of the s LBO boom using their exhaustive list of contacts. The book reads like a movie as the personalities leap out of the page.

The Fall of RJR Nabisco Barbarians at the Gate Books

A lot of today's issues are explored: real business vs the financial world, the possibilities and risks of leverage, captured boards and profligate executives vs activist investors. The authors pass along such perfect lines like, when speaking about RJR's expense account manager, "the only man who can take an unlimited budget and exceed it.


  1. Storyselling for Financial Advisors : How Top Producers Sell.
  2. Barbarians at the Gate The Fall of RJR Nabisco?
  3. Barbarians at the Gate: The Fall of RJR Nabisco..

Never pay in cash. And never tell the truth. While not the same story as Enron, the corporate games and minimal concern for employees at RJR Nabisco was equally appalling. If you read about the Savings and Loan crisis you will also see much in common. I was only vaguely aware of this story and was riveted by it. I had trouble putting this book down.

It's thorough while still an easy read and you don't need to be a student of economics to understand it. It's also scary because this is but one of very many examples of corporate, institutional, and wall street greed and self involvement that, unfortunately, is way too prevalent. Wow, some of the most incredible customer service ive ever received.