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New York City’s Menu Wars

In the early 1990s, food delivery services on Manhattan’s Upper West Side sparked what New York Times writer Emily M. Bernstein called “the menu wars.” Everyone from dry cleaners to nail salons followed Chinese restaurants’ lucrative lead, placing paper take-out menus inside apartment buildings’ lobbies and mail rooms and under residents’ doors. Angry tenants demanded […]

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A Business Journalism Classic: Inside the Multibillion-Dollar Takeover Battle for RJR Nabisco

Everyone in the room knew about leveraged buyouts, often called LBOs. In an LBO, a small group of senior executives, usually working with a Wall Street partner, proposes to buy its company from public shareholders, using massive amounts of borrowed money. Critics of this procedure called it stealing the company from its owners and fretted […]

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The U.S., China and the ‘Financial Balance of Terror’

This month, Britain, Germany, France, Italy, South Korea, and a handful of other U.S. allies announced plans to join the new China-led Asian Infrastructure Investment Bank, despite American pressure not to. The multilateral fund is essentially China’s answer to the World Bank and the Asian Development Bank, organizations where the U.S. has long had more influence than China. China has […]

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