Privatize: During the 1990s, proposals to spin off commercial components of federal labs to private industry, and to allow employeebuyouts, were common.
The company will use the money to boost its cash cushion in case of recession, pay for plant closings and employeebuyouts, and importantly, to fund product development aimed at winning back lost market share.
The son of Nicholas (who came to the U.S. from Kiev) and armed with a law degree from Harvard, "A.N. was doing leveraged buyouts in the 1930s before anybody had even heard of such a thing, " says a onetime family employee.