Deals
Elsie May Be Ailing, But Kkr Is Thinking Whipped Cream
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To say the least, 1993 was a very difficult year for everyone with a stake in Borden.... All felt the impact of Borden's poor performance.... We want you to know that a new era has begun....
Acknowledging that your company is in trouble is hardly an encouraging way to begin an annual report. But Borden Inc. Chairman Frank J. Tasco and CEO Ervin R. Shames must have figured there was no point denying the obvious. Through a flawed acquisition strategy, Borden's former top brass had left the company indebted and unprofitable. The best Tasco and Shames could do was put a good face on Borden and hope someone would gobble it up.