The Predators’ Ball (63 page)

partnerships:

of Drexel corporate finance investment,
68
–69

general vs. limited,
68

Parton, Dolly,
60

passbook accounts,
91

Paul, Weiss, Rifkind, Wharton and Garrison,
105
,
128
,
194
,
196
,
207

Peiser, Robert,
19
,
170
,
172
,
178
,
181

Peltz, Nelson,
13
,
14
,
105
–19,
140
–148,
160
,
168
,
190
,
201

ambitions of,
110
–11

background of,
109

career path of,
109
–12

financial compensation of,
145
–146

Icahn compared with,
169
–70,
187

lifestyle of,
108
,
110
,
112
,
144
–45,
186

May's meeting of,
110

Milken introduced to,
112

Milken's relationship with,
108
,
146
–47,
170

National Can deal and,
17
–18,
105
–9,
119
,
125
–32,
135
,
138
,
140
,
170
,
323
–24

parrot incident and,
112

Revlon battle and,
212

as symbol of new Drexel,
140
–42

Uniroyal and,
141
–45,
170
,
263

Peltz, Robert,
109
–10,
111

Abe Peltz and Sons,
109

Penn Central,
165

bonds of,
34
,
112

Pennsylvania, University of, Wharton School of,
24
,
59

Pennsylvania Engineering,
122
–23,
322
,
324

Pennzoil,
164

pension funds,
94
,
120
,
207

People Express,
249
,
287

“perception vs. reality” theme,
271
–72,
297
,
355

Perelman, Claudia Cohen,
198
,
218
,
236

Perelman, Faith Golding,
196
,
198
,
201
,
202

Perelman, Raymond,
198

Perelman, Ronald,
109
,
120
,
193
–240,
333

background of,
198
–99

divorce of,
201
,
202

lawsuit against,
199
–201

Levine and,
234
–35

MacAndrews and Forbes and,
18
,
132
,
193
,
198
,
199
,
201
,
203
,
235
,
237
,
305

Milken's relationship with,
235
–236,
238

Murdoch and,
245

National Can deal and,
125
,
132
,
135

Pantry Pride and,
18
,
193
,
197
,
199
,
201
–40,
272
–73

personality of,
194
,
238
,
240

post-Revlon acquisitions of,
233
–234

at Predators' Ball (1986),
14
,
258

Revlon and,
18
,
117
,
182
,
193
,
203
–40,
347
;
see also
Revlon, Inc.

Salomon Brothers and,
346
–47

Shenkman and,
277

social climbing of,
186
,
236

Technicolor acquired by,
198
–201,
210

Pesonen, Eerki,
281
,
283

Phibro Corporation,
248

Philadelphia Electric,
42

philanthropy,
189
,
313
–14

Philip Morris Companies Inc.,
221

Phillips Petroleum,
13
,
19
,
107
,
127
,
130
,
163
–71,
173
,
191
,
203
,
208
,
322

Drexel commitments for,
19
,
167
–68

as Drexel's coming-out,
169

leveraged buyout of,
166
–67

recapitalization plan of,
164
,
167
,
169

stock of,
164
,
165
,
168
–69

uniqueness of Icahn's bid for,
166

Picara Valley,
160
–61

Pickens, T. Boone, Jr.,
13
,
14
,
100
,
102
,
107
,
109
,
203
,
218
,
231
,
355

Phillips Petroleum and,
13
,
164
,
165
,
166
,
171

at Predators' Ball (1986),
258

Pierce, Fenner and Smith,
30

poison pill,
168
,
216
,
217
,
224
,
226
,
256

Polaroid,
152

Political Action Committees (PACs),
259

political contributions,
259
,
260

politics, Drexel's influence on,
258
–260,
264
–65

polo matches,
190

Posner, Steven,
121

Posner, Victor,
12
–13,
16
,
93
,
106
,
119
–25,
156

Boesky Day and,
318
,
320
–23

business problems of,
128
,
139
–40

Considine and,
122
–23,
125

Engel and,
121
,
123
,
338
,
340

first business venture of,
121
–22

fortune made by,
120

National Can and,
119
,
122
–25,
127
–29,
131
,
132
,
139
–40,
146

personality of,
120
–22

Predators' Ball (1985),
10
–20,
135
–136,
141
,
170
,
183
,
259
,
294

entertainment at,
16

“girls” at,
15

Predators' Ball (1986),
182
–83,
257
–259,
291
,
302

Predators' Ball (1987),
329

preferred stock,
290
,
325

defined,
265

President's Council of Economic Advisers,
261
–63,
270

Prime Capital Associates,
231

Princeton-Newport Limited Partnership,
81
,
311
,
328

Princeton University,
189

Princeville Development Corporation,
284

private placements,
129
–30

disadvantages of,
130

insurance companies and,
45
,
46
,
100

Revlon battle and,
217
–18,
223

Procter and Gamble,
221

productivity, Milken's views on,
356
–57

Provident Bank,
36

proxy fights,
154
–55,
157
–59,
164
–165,
168
,
172
,
202
–3

Prudential Bache,
252

Prudential Insurance Company of America,
134
,
311

publicity, Milken's views on,
86

Pullman,
96

Quanex,
349

“quasi-trader salesmen,”
86

Racketeer Influenced and Corrupt Organizations Act (RICO),
159
–60

Rainwater, Richard,
278

Ralston Purina,
334

RA Partnership,
81

“Rape and Pillage in the Corporate Takeover Jungle” (Lipton),
204

Rapid-American,
35
,
37
–38,
83
,
93
,
327

RCA,
99

Reagan Administration,
97
,
260
,
264

real-estate investment trusts (REITs),
34
–35,
44
–45,
154
–55,
307
,
308

recession,
29
,
33
,
34
,
70
–71,
77
,
270
,
345

Regan, James,
81
–83,
300
,
311
,
327
–328

Reheis special chemical business,
232

Reich, Ilan,
318

REITs (real-estate investment trusts),
34
–35,
44
–45,
154
–55,
307
,
308

relationship banking,
63

“Relationship Group,”
340

Reliance Capital Group, L. P.,
16
,
120

Reliance Financial Services Corporation,
13
,
35
,
38
,
83
,
107
,
164
,
293
–94

Reliance Group Holdings,
82

Reliance Insurance Company,
36
,
93
,
291

Republic Corporation,
292

research and development (R&D),
19
,
205
,
262
,
263

Resorts International,
58
,
173

restructuring, corporate,
19

retirement,
253

Revlon, Inc.,
18
,
117
,
182
,
193
,
203
–240,
280
,
347
,
352

banks in battle for,
210
–11

bond purchases and trading and,
232
–33

commitment fees and,
221
,
223
,
232

conquest of, as end of an era,
227
–30

defense moves of,
210
–13,
215
–17,
224
,
226
–27

defense team of,
204
–8

divestures and,
210
,
221
,
231

earnings of,
195

exchange offers and,
216
–17,
224
–225,
226
,
229

Forstmann Little and,
219
–28,
231

Frates group and,
195
–96

gloomy predictions for,
234
–35

lawsuits and,
211
–13,
215
,
226
,
234

leaks in battle for,
219

lock-up option and,
225

management buyout plan for,
219
–21,
225

operating profits of,
234

Pantry Pride merger with,
234

Perelman's changes at,
239

Perelman's debt service and dividend obligations and,
223

Perelman victory celebration and,
230
–31

poison pill and,
216
,
217
,
224
,
226

private placements and,
217
–18,
223

stock of,
195
,
211
–12,
215
–16,
218
–21,
228
–29,
232
,
234

wealth distribution from bust-up of,
231
–32

Revlon Group, Inc.,
234
,
237
,
243

Revson, Charles,
195
,
196
,
234

Rexnord,
144

Richardson Battery Parts Division,
198
,
208
,
238

Richardson-Vicks, Inc.,
221

Rider,
45

Rifkind, Simon,
196
,
207
–8,
216
,
224
,
228

Riklis, Meshulam,
35
–39,
57
,
67
,
93
,
119
,
142
,
168
,
186
,
273
,
295
,
327

Chinese paper used by,
38
,
75
,
120

exchange offers of,
75

Milken compared with,
37
–38

National Can deal and,
132

SEC and,
37
,
38

robber barons,
65
,
66
,
149
,
245

Rocha, Rodrigo,
281
–82,
283
,
327

Rockefeller, Nelson A.,
37

Rodeo Corporation,
132

Roderick, David,
188

Rohatyn, Felix,
101
,
141
,
196
–97

junk-bond takeovers opposed by,
206
–7

Revlon battle and,
206
–7,
209
,
210
–11,
213
,
221
,
229

Rooney, Pace Group Inc.,
202
,
350

Rooney, Patrick,
202