Word: nu
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Dates: during 1980-1989
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...Some 1,100 units of U.S. companies have been acquired by their managers since 1982, and it is a blue-chip list: the Montgomery Ward department-store chain, bought by its executives from Mobil; the former ITT subsidiary that makes Scott lawn products; the onetime Unisys unit that produces Nu-kote ribbons for typewriters and computer printers. "Management buyouts create powerful incentives for entrepreneurship, risk taking and long-term planning," says Martin Dubilier, chairman of a New York City investment firm that bankrolls many executives seeking control of their companies...
...executives who bought Nu-kote also felt ignored by their corporate parent. After the 1986 merger of the Burroughs and Sperry computer companies that produced Unisys, corporate headquarters decreed in a confidential memo that "ancillary" units would be put on the auction block. Reinhold Tischler, then president of the Nu-kote division, called his boss and said, "Ancillary division reporting in. We'd like to buy it." On Jan. 16, 1987 -- Tischler calls it Independence Day -- he and 20 other managers bought Nu-kote for $60 million. After they eliminated several aging product lines, overall sales grew 17% last year...
...generals Aung Gyi and Tin Oo, and Aung San Suu Kyi, daughter of one of Burma's great nationalist heroes and the country's newest and brightest political star -- wrote to Maung Maung formally rejecting the proposed elections. They were joined in that demand by former Prime Minister U Nu, who had been ousted from power in 1962. Later, a government election commission reportedly informed the regime that elections without the opposition's cooperation were impossible...
...boldest individual challenge to the beleaguered government last week came from an unexpected source: former Prime Minister U Nu, 81. Toppled from power in 1962 by General Ne Win, who ruled Burma for the next 26 years, U Nu asserted last week, "Though I have been robbed of my power, I am still the legitimate Prime Minister." In a remarkable display of Burmese-style chutzpah, U Nu named a government and announced that general elections would be held on Oct. 9 to ratify his claim to power...
...Nu did not name to his government two popular opposition figures, retired Brigadier General Aung Gyi and Aung San Suu Kyi. That omission all but doomed the effort. Aung Gyi, who won wide support for his public challenges to the defunct Ne Win regime, called U Nu's action "preposterous." Aung San Suu Kyi, the daughter of a martyred national hero, told TIME that "U Nu is a possibility" to head an interim government. But she savors comparisons of herself with the Philippines' Corazon Aquino, and when asked if she was willing to head a government, she responded...