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BUSINESS
May 16, 1986 | Associated Press
RJR Nabisco Inc. is close to announcing the proposed sale of two and perhaps three of its soft-drink subsidiaries to Cadbury Schweppes PLC of Britain, a leading industry analyst said Thursday. Jesse Meyers, publisher of Beverage Digest Newsletter, said he believes that RJR Nabisco's Hawaiian Punch operation also might be included. He said the sales might be announced today.
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CALIFORNIA | LOCAL
April 16, 2001
Re "Big Tobacco Funds Women Into Silence," Commentary, April 12: How about if Philip Morris and RJR Nabisco were to spend more of their money on scholarships? This might "move up" the class of smokers who end up smoking and ultimately dying in 20 or 30 years. Maybe if the women who benefit from their donations insisted on an equal amount being spent on educating women less fortunate, everyone would benefit. A big hand for the National Organization for Women for refusing to touch tobacco money.
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NEWS
January 16, 1987 | Associated Press
RJR Nabisco Inc. has agreed to sell Heublein Inc. to London-based Grand Metropolitan PLC for $1.2 billion in cash, F. Ross Johnson, president and chief executive officer of RJR, said today. Heublein, based in Hartford, Conn., markets nearly 100 brands of spirits, wines and imported beers. Its major brands include Smirnoff vodka and Inglenook and Lancers wines. Grand Metropolitan has interests in spirits and wines through its subsidiary, International Distillers and Vintners.
NEWS
June 26, 2000 | MELINDA FULMER, TIMES STAFF WRITER
Philip Morris Cos., parent of Kraft Foods, on Sunday agreed to buy cookie and cracker giant Nabisco Holdings Corp. for $14.9 billion, making the nation's largest food company even more powerful with brands on virtually every supermarket aisle. The announcement comes at a time when many of the largest players in the slow-growing food business have been looking to consolidate in order to cut costs, boost sales and increase their clout with grocery retailers.
BUSINESS
June 21, 1990 | From Reuters
Sixteen months after the biggest leveraged buyout in U.S. corporate history, RJR Nabisco Inc. is asking its four major bank lenders to help refinance part of the $25 billion spent to take the company private last year, the company said Wednesday. Banking sources said the refinancing would total $5.3 billion and involve RJR's worst-performing junk bonds.
BUSINESS
July 25, 1991 | From Associated Press
RJR Nabisco Inc., continuing to reap the benefits of its financial restructuring, said Wednesday that it earned $79 million in the second quarter. The food and tobacco conglomerate, which returned to profitability and public ownership this year after its 1989 leveraged buyout, said its earnings translated to 3 cents per share after accounting for preferred stock dividends.
BUSINESS
July 16, 1990 | From United Press International
RJR Nabisco Inc. said today it is beginning a $6.9-billion refinancing that will retire the debt-ladened company's most troublesome junk bonds and leave it with a more conservative balance sheet. The food and tobacco giant said $4.45 billion of its high-yield, high-risk junk bonds, issued to help finance its record $24.9-billion leveraged buyout last year, and $2 billion of other costly forms of debt will be replaced with lower-cost bank debt, preferred stock and new equity. Chairman Louis V.
BUSINESS
April 2, 1998 | Associated Press
RJR Nabisco executives are fuming about a congressional bid to prohibit cigarette companies from using animals in their advertising. The bill introduced by Senate Commerce Committee Chairman John McCain would force RJR Nabisco to do away with Old Joe, the Camel dromedary used on Camel cigarette packs since 1913. RJR Nabisco earlier had agreed to do away with Joe Camel, the cartoon character used in recent years to pitch cigarettes.
BUSINESS
April 21, 1989 | From Associated Press
RJR Nabisco Inc. reported a 62% drop in first-quarter net income Thursday, blaming the decline on the costs of its takeover by Kohlberg Kravis Roberts Inc. and the failure of its smokeless cigarette. The company reported net income of $103 million, down from $273 million in the same quarter a year ago, and earnings per share of 44 cents, down from $1.09 in the first quarter of 1988. Sales in the quarter were up 5%, to $4 billion from $3.8 billion in 1988. Without the merger-related costs and a charge for the discontinued test of its Premier smokeless cigarette, earnings per share would have been $1.41 and net income would have been up 17% to $320 million in the first quarter, RJR Nabisco said.
BUSINESS
May 13, 1999 | From Reuters
Presiding over the last annual meeting of tobacco and food behemoth RJR Nabisco Holdings Co., Chairman Steven Goldstone said Wednesday that the $8-billion sale of international tobacco operations allowed a split into "two companies that are in really good shape." Goldstone, ending a tumultuous era storied in the movie and book "Barbarians at the Gate," called his experience at the helm "an interesting ride." "All's well that ends well," he said.
OPINION
January 2, 2000
Re "State Tobacco Tax Ignites an Unlikely Political Fire," Dec. 28: Will we ever learn that when someone wants to tax us, no matter what the product, the results are the same--the government wins and we lose. I fought to defeat the 50-cent tax on tobacco for California. It was close--I lost. Now we have a chance to reverse the measure. Think about the new sidewalks for the tobacco settlement--then think about the millions collected for kids (ha!) that will go into bigger government projects.
BUSINESS
June 16, 1999 | Bloomberg News
RJR Nabisco Holdings Corp.'s largest shareholder, financier Carl Icahn, sold his 8% stake in the company as it split into separately traded food and tobacco businesses. Icahn, who for four years had tried to wrest control of RJR, pocketed a $130-million profit from selling his 25.7 million shares at $31.87 per share minutes before the close of trading Monday. Icahn's sale comes as R.J. Reynolds Tobacco Holdings Inc., the No. 2 U.S.
BUSINESS
May 13, 1999 | From Reuters
Presiding over the last annual meeting of tobacco and food behemoth RJR Nabisco Holdings Co., Chairman Steven Goldstone said Wednesday that the $8-billion sale of international tobacco operations allowed a split into "two companies that are in really good shape." Goldstone, ending a tumultuous era storied in the movie and book "Barbarians at the Gate," called his experience at the helm "an interesting ride." "All's well that ends well," he said.
NEWS
March 10, 1999 | JAMES F. PELTZ and MYRON LEVIN, TIMES STAFF WRITERS
RJR Nabisco Holdings Corp., hobbled by anti-smoking lawsuits and a crushing debt burden, said Tuesday that it plans to split its cigarette and food businesses and sell its foreign tobacco group for $8 billion. The proposed breakup is yet another example of a social movement and a legal crusade altering the fortunes of a major corporation. Litigation waged over the safety of asbestos insulation, breast implants and nuclear power have also forced major restructurings over the years in U.S.
BUSINESS
December 23, 1998 | From Reuters
Financier Carl Icahn on Tuesday reopened his long-running battle to break up RJR Nabisco Holdings Corp. into separate food and tobacco businesses with a threat to mount another shareholder vote at the next annual meeting. Rebuffed in two earlier attempts to force a break-up of the huge conglomerate, industry analysts said Icahn might have a better chance this time around.
NEWS
December 23, 1998 | ALISSA J. RUBIN and HENRY WEINSTEIN, TIMES STAFF WRITERS
In what Justice Department officials describe as the first conviction of its kind, an affiliate of a major U.S. cigarette company pleaded guilty Tuesday to avoiding cigarette sales taxes and aiding an operation that smuggled cigarettes into Canada. The plea by Northern Brands, Inc., an affiliate of RJR Nabisco's international tobacco unit, came after an intense four-year federal investigation. The company was based in Winston-Salem, N.C., as is RJR Nabisco.
BUSINESS
October 23, 1990 | From Times Wire Services
RJR Nabisco Holdings Corp. said today its third-quarter loss narrowed to $86 million on revenues of $3.52 billion, compared with a loss of $447 million on revenues of $2.99 billion in the like 1989 period. The food and tobacco giant said the 1990 third-quarter loss reflects $507 million in pre-tax charges for non-cash interest related to RJR Nabisco's leveraged buyout in 1989, as well as $303 million in pre-tax charges for amortization and depreciation.
BUSINESS
December 22, 1988 | Associated Press
A congressional panel on Wednesday revealed that it has launched a broad investigation into the multibillion-dollar leveraged buyout of RJR Nabisco Inc. Rep. John D. Dingell (D-Mich.), chairman of the House Energy and Commerce Committee, asked RJR Nabisco President F. Ross Johnson e and nine members of the company's board to supply documents and submit to interviews.
BUSINESS
November 24, 1998 | JAMES PELTZ and MICHAEL HILTZIK
Stock Exchange gives readers a chance to listen in as staff writers James Peltz and Michael Hiltzik debate the merits of individual stocks. Nike (NKE) Jim: Up first today is the world's biggest sneaker company, led by one Philip Knight, the billionaire who never takes off his sunglasses and who started Nike by selling shoes out of his car in 1964. Mike: You're aware of the great controversy surrounding Nike right now, aren't you, Jim? Jim: Whether it pays its Asian production workers peanuts?
BUSINESS
September 30, 1998 | From Reuters
RJR Nabisco Holdings Corp. and Goodyear Tire & Rubber Co. on Tuesday joined a long list of large companies issuing profit warnings. RJR, the New York-based food and tobacco conglomerate, said its third-quarter profit would fall 20% to 23% short of Wall Street expectations because of depressed market conditions in Russia and elsewhere. In its announcement after the close of trading, RJR said it expects third-quarter earnings to range between 46 cents and 48 cents per fully diluted share.
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