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Economy: RJR Nabisco Takeover / Winston-Salem, North Carolina #113195

ABC Evening News for Wednesday, Nov 30, 1988
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(Studio: Peter Jennings) Report introduced.

(NYC: Stephen Aug) Bidding war for RJR Nabisco, Incorporated, featured; details given of bidding groups, one led by company executive F. Ross Johnson, second led by Henry Kravis of buyout firm Kohlberg, Kravis, Roberts and Company, third by First Boston Corporation Impending sale by process of leveraged buyout outlined on screen. [Smith Barney analyst Ronald MORROW - says company's food assets will be sold off.] Money-making aspects of buyouts explained.

(Studio: Peter Jennings) Report introduced.

(Winston-Salem, North Carolina: Al Dale) Impact of buyout on city where Joshua Reynolds founded his tobacco business featured; details given, scenes shown. [Stockholder Bob CROSLAND - says cash will be put in hands of community.] [Winston-Salem mayor Wayne CARPENING - says city will have a lot of millionaires wearing overalls.] Current economy force of Reynolds tobacco co. on town explained; concern over company's likely future emphasis with bottom line noted. [MAN - speculates on future.] [WORKERS - worry about their jobs.]

Reporter(s):
Aug, Stephen;
Dale, Al;
Jennings, Peter
Duration:
00:04:30

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