Fall From Grace

Feb. 11, 1994, marked the beginning of the coup. Late that night, J. Peter Grace Jr., the octogenarian chairman of W.R. Grace & Co., and his youngest son, Patrick, president of Grace Logistics Services Inc., telephoned Grace Director Robert C. Macauley to say they had something urgent to discuss. They immediately headed over to Macauley's West Palm Beach (Fla.) vacation home.

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