University Daily Kansan / Thursday, November 10, 1988
5
Business, buyouts and Beatrice
By Debbie McMahon Kansan staff writer
The former chairman of the multi-interest Beatrice Company said that students must be willing to take risks to achieve success comparable to his.
Donald Kelley gave his speech, "Restructuring Corporate America," to two different audiences yesterday. About 150 students enrolled in Business 800, Dean's Seminar in Business Administration, heard Kelley speak at 2 p.m. in the Burge Union. Students graduating in December listened to Kelley at 6 p.m. in Wescoe Hall.
Marilyn Taylor, associate professor of business, said Kelley could be considered the "dawn of leveraged transactions and acquisition and divestiture."
Former chairman advises
students to take more risks
Most recently, Kelley is known for engineering the largest leveraged buyout in history, Taylor said. In 1986, along with Kohlberg, Krawitz and a large investment bank, he purchased the Beatrice Company for $7 billion.
A leveraged buyout is when the management or an outsider uses det, instead of equity, to buy a company, Taylor said. Since 1980, suchbuyouts have increased because investors have been more willing to manage debt transactions.
The history of the Beatrice buyout was unusual, Taylor said. Kelley was
head of the Esmark company and tried to purchase Esmark as a management buyout. Instead, Beatrice bought Esmark in 1984 as an outsider buyout by offering stockholders more money. Kelley left his position but two years later bought Beatrice as an outsider.
Kelley's other major transactions include the purchase and sale of Avis twice. While at Esmark, he borrowed the money to purchase Norton Simon.
Kelley sees restructuring as a result of increased debt loads caused by leverage buy outs.
"I think it is essential that all of us recognize adapting to the realities emerging from this continuing ecological challenge," he said.
After his speech at Burge, he was asked what effects the election of George Bush will have on leveraged buvouts.
"I think there's not much difference whether Vice President Bus's or the other guy won." Kleyed said. "I'd say we're going to have increased responsibility is unfortunate. Regardless of how well intentioned it is, it will be wrong."
Tomorrow, Jorge Gallardo, minister of finance of Ecuador and KU graduate, will speak on "Strategies for Renegotiation of Foreign Debt" at 4 p.m. in Alderson Auditorium at the Kansas Union.
Haskell's request to reassign Gipp to Lawrence refused
The Associated Press
A request by Haskell Indian Junior College's National Board of Regents to reassign Haskell President Gerald Gipp to Lawrence will not be considered by the Bureau of Indian Affairs until next week, a bureau official said yesterday.
Carl Shaw, spokesman for the bureau, said that the request wouldn't be considered until bureau officials had a chance to see the results of an investigation into Gipp's conduct while president of Haskell.
Shaw said that he wasn't sure whether the report was complete but that it would not be released to the public until next week.
The regents passed a resolution last week, calling for Gipp's return
while the bureau completes the investigation.
Gipp has been assigned temporarily to the bureau's central office in Washington D.C. during the investigation. The investigation stems from an instructor's claim that improperly prepared change grade he had given Gipp's daughter while she was a Haskell student in 1987.
The board's resolution says that Gipp is needed at Haskell to take care of administrative duties. Van Peters, an administrator from the bureau's Portland, Ore., office has been acting president in Gipp's absence.
- Kansan reporter James Farquhar contributed information to this story.
Professors sign $1.2 million contract to study TV's effects on poor children
By M. Meredith Relph Kansan staff writer
Kansan staff writer
Two KU professors recently have signed a $1.2 million contract with the Children's Television Workshop in New York to finance a study of television's effects on economically disadvantaged children.
John C. Wright and Alethea C. Huston, professors of human development and family life and directors of the University's Center for Research on the Influences of Television on Children, will conduct the study of 400 Kansas City-area families in low-income neighborhoods.
Wright and Huston recently completed a similar study involving 328 T.peka families with preschoolaged children. The new study will involve families with children ages 2 to 7.
"There are two things we are trying to find with the study," Huston said. "We want to know what kinds of conditions lead children to different patterns of TV
watching and the effects of the different viewing patterns on their development."
The new project, which is scheduled to last seven years, will follow children's viewing habits from about age 2 for about three years, and will evaluate the children's intellectual, social and psychological development.
Huston said the focus of the new research would be the differences between children whose earliest viewing was of educational children's programs such as "Sesame Street," and those who had watched primarily entertainment programming such as soap operas or situation comedies.
The professor's previous findings suggested that early and frequent viewing of shows such as "Sesame Street" helped children develop reading skills, vocabulary and an interest in print media.
Veterans Day to be observed Vietnam POWs. MIAs to be remembered at vigil tomorrow
By Daniel Niemi Kansan staff writer
Banks and post offices will be closed to observe Veterans' Day tomorrow, and several organizations will be busy commemorating veterans.
duty commemorating the University of Kansas squadron of the Arnold Air Society, an organization affiliated with Air Force ROTC, will conduct a candlelight vigil at 7 tonight to honor soldiers still listed as prisoners of war or missing in action from the Vietnam War.
The vigil will take place at the Vietnam Veterans' Memorial, at the southeast corner of Memorial Drive and West Campus Road, and will last about 45 minutes. Tom Berger, program assistant in the office of affirmative action and a Vietnam veteran, will speak at the vigil. NIMH AMR.
The vignil is part of the society, brance week, which includes the distribution of red ribbons to promote POW MIA association and a petition drive to ask the Vietnamese government to account for MIAs.
we want to make the Vietnamese government aware that we haven't forgotten them. "Renner said,
The Castle Tea Room
"We not only want to make Americans aware of POWs,
Tomorrow, a color guard will conduct a retreat ceremony on p.m. at the flagpole outside the Military Building.
At Haskell Indian Junior College, Veterans' Day observance will begin tomorrow at 7 a.m. with a sunrise ceremony at Stidham Union. A gourd dance will begin at 2 p.m. at Coffin Complex followed by a powwow at 7:30 p.m.
At 10 a.m. tomorrow, a memorial service will be attended at the Veterans of Foreign Wars Alford Clark Post 852, 138 Alabama St. The service will be sponsored by the Veterans of Foreign Wars with the American Legion Dorsey-Liberty Post 14, the Disabled American Legion Barracks 22 and the Vietnam Veterans of America.
843-1151
1307 Massachusetts
November 10: Latin American Solidarity Speaker: Mary Kae Meyer Tiger: Rebecca Hodgson Adajanor Mosa Grande Refugiés' Rice and Bees Dinner
November 11: Friday Free Movie
*Gabay, A True Story*
Popcorn and Drink Provided
7:30 p.m.
Bob Schumm, Lawrence mayor, and Arden Booth, founder of KLWN Radio and a World War II veteran, are scheduled to speak.
November 13: Sunday Evening Worship
& Supper
5:30 p.m.
**November 16:** University Forum.
Paul Stephenson Lim,
"Tell it Like It Should Be Better Still
Tell it Like It Should Be"
11th Laurence L. Open Ches-
nise, naver speaker
STUDENT UNION ACTIVITIES
THE UNIVERSITY OF KANSAS
Films presents...
8:00 ONLY Double Feature
Cry of Reason
Woza Albert
The state of living in South Africa is
revealed by the people who live it.
One describes the politics, the other
the daily realities. Deeply moving
and stunning in their rare honesty on
this controversial subject, if you care
about justice don't miss them.
Share in the faith that gives courage to ordinary Christians.
Join us in worship this Sunday and discover how faith in our Lord Jesus Christ helps ordinary people do extraordinary things.
Bishop Tutu
Terry Waite
The Episcopal Church
Part of the Worldwide Anglican Communion
Canterbury House
The Episcopal Church at KU
1116 Louisiana 843-8202
Sunday Service - 5 p.m.
Thursday Service - 12 noon - Danforth Chapel
ALL YOU NEED TO KNOW ABOUT PIZZA!
FAST 'N FREE DELIVERY
842-1212
FAST 'N FREE DELIVERY
PIZZA SHUTTLE
“NO COUPON SPECIALS”
Prime Time
Special
3-Pizza
1-Topping
4-Cokes
$10.00
Everyday
Two-Fers
2-Pizzas
2-Toppings
2-Cokes
$8.00
$1.00 OFF
ANY PIZZA ORDERED
11 a.m.-4 p.m.
842-1212
Special Offer
10-Puzzas
1-Topping
$25.00
$.50 OFF
ANY PIZZA
842-1212
NAME___
ADDRESS_
NAME
NAME___
ADDRESS_
---
Monday-Thursday 11 a.m.-2 a.m. Friday-Saturday 11 a.m.-3 a.m. Sunday 11 a.m.-1 a.m.
Hours: Monday-Thursday 11 a.m.-2 a.m. Friday-Saturday 11 a.m.-3 a.m. Sunday 11 a.m.-1 a.m.
WE DELIVER DURING LUNCH
Lambswool Sweaters
$890 - $1090
originally $18-$38
Choose from vests long sleeve pullovers and cardigans in bright green, gold red, royal & natural.
Pants & Skirts
$2790
originally $48
Tartan plaids in wool blends.
Starting at $890
HARPER'S F A S H I O N S 945 Massachusetts, Downtown Lawrence