Barbarians: Pro And Con
The national economy emerged as a winner in the RJR Nabisco Inc. buyout ("RJR: Big buyout, big fizzle," Editorials, Apr. 3).
Undoing mistakes of the past is what this LBO was all about. The corpocracy days of H. Ross Johnson, when there were as many as 11 corporate jets (known facetiously as "RJR's air force"), are long gone.
BUSINESS WEEK's article mentions, though not approvingly, that RJR has shed more than 46,000 employees. These were redundant workers who will become more productive when they take other jobs.
I'm tired of the LBO-bashing in your magazine. Any LBO that cleans up a mess as great as the one Kohlberg Kravis Roberts & Co. inherited deserves a salute.
Geoffrey E. Nunn
The last paragraph in your editorial about KKR and RJR Nabisco says it all. There is only one word in the dictionary for people like Henry Kravis, and that word is "greed."
Herbert A. Yost