Thomas John Rattigan (born 20 July 1937 in Boston) is an American businessman.
The United States of America (USA), commonly known as the United States or America, is a country comprising 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is slightly smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U.S. is the third most populous country. The capital is Washington, D.C., and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico. The State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean. The U.S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The extremely diverse geography, climate, and wildlife of the United States make it one of the world's 17 megadiverse countries.
Rattigan earned a BS at Boston College in 1960 and a MBA at Harvard Business School in 1962.[ citation needed ] He joined PepsiCo in 1970 where he rose to the position of CEO of PepsiCo International in 1982.
Boston College is a private Jesuit research university in Chestnut Hill, Massachusetts. The university has more than 9,300 full-time undergraduates and nearly 5,000 graduate students. The university's name reflects its early history as a liberal arts college and preparatory school in Boston's South End. It is a member of the 568 Group and the Association of Jesuit Colleges and Universities. Its main campus is a historic district and features some of the earliest examples of collegiate gothic architecture in North America.
Harvard Business School (HBS) is the graduate business school of Harvard University in Boston, Massachusetts. The school offers a large full-time MBA program, doctoral programs, HBS Online and many executive education programs. It owns Harvard Business Publishing, which publishes business books, leadership articles, online management tools for corporate learning, case studies and the monthly Harvard Business Review. It is home to the Baker Library/Bloomberg Center.
In 1985 Commodore, an early producer of home computers, hired Rattigan as COO intending to prepare him to become CEO (competitor Apple Computer had hired Pepsi president John Sculley in 1983).
Commodore International was an American home computer and electronics manufacturer founded by Jack Tramiel. Commodore International (CI), along with its subsidiary Commodore Business Machines (CBM), participated in the development of the home–personal computer industry in the 1970s and 1980s. The company developed and marketed the world's best-selling desktop computer, the Commodore 64 (1982), and released its Amiga computer line in July 1985. With quarterly sales ending 1983 of $49 million, Commodore was one of the world's largest personal computer manufacturers.
Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Four of technology along with Amazon, Google, and Facebook.
John Sculley III is an American businessman, entrepreneur and investor in high-tech startups. Sculley was vice-president (1970–1977) and president of Pepsi-Cola (1977–1983), until he became chief executive officer (CEO) of Apple Inc. on April 8, 1983, a position he held until leaving in 1993. In May 1987, Sculley was named Silicon Valley's top-paid executive, with an annual salary of US$10.2 million.
In 1986 Rattigan took over as CEO from Marshall F. Smith. He continued the downsizing his predecessor had initiated, cut unprofitable product lines and initiated the development of two more models of Commodore's flagship Amiga 1000 computer.
The Commodore Amiga 1000, also known as the A1000 and originally marketed as the Amiga, is the first personal computer released by Commodore International in the Amiga line. It combines the 16/32-bit Motorola 68000 CPU which was powerful by 1985 standards with one of the most advanced graphics and sound systems in its class, and runs a preemptive multitasking operating system that fits into 256 KB of read-only memory and shipped with 256 KB of RAM. The primary memory can be expanded internally with a manufacturer-supplied 256 KB module for a total of 512 KB of RAM. Using the external slot the primary memory can be expanded up to 8.5 MB.
Despite turning the company from a US$237 million three-quarter loss to a $22 million profit in one quarter, Rattigan was fired by major shareholder Irving Gould, who temporarily took over as CEO. Rattigan sued Commodore for $9M of lost income [ citation needed ].
Irving Gould (1919–2004) was a Canadian businessperson credited with both saving and sinking Commodore.
In 1991 Rattigan was appointed by the court as CEO of G. Heileman Brewing Co. He steered the company through bankruptcy and left in 1994, pocketing almost $20 million in severance pay. "You can't say he did a terrible job with Heileman. But he certainly didn't turn it around", PaineWebber analyst Goldman told the Wall Street Journal in 1996.
The G. Heileman Brewing Company of La Crosse, Wisconsin, United States, was a brewery firm that operated from 1858 to 1996. It was ultimately acquired by Stroh's, and its independent existence ceased. From 1872 until its acquisition, the brewery bore the family name of its co-founder and brewer Gottlieb Heileman.
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.
In 1996 and 1997 Rattigan headed financier Carl Icahn's slate for the RJR Nabisco board, netting him $2 million in salary.
The R. J. Reynolds Tobacco Company (RJR), based in Winston-Salem, North Carolina and founded by R. J. Reynolds in 1875, is the second-largest tobacco company in the U.S.. RJR is a wholly owned subsidiary of Reynolds American Inc., which, in turn, is owned by British American Tobacco of the United Kingdom.
Carl Celian Icahn is an American businessman, investor, and philanthropist. He is the founder and controlling shareholder of Icahn Enterprises, a diversified conglomerate holding company based in New York City, formerly known as American Real Estate Partners. He is also Chairman of Federal-Mogul, an American developer, manufacturer and supplier of powertrain components and vehicle safety products.
Nabisco is an American manufacturer of cookies and snacks headquartered in East Hanover, New Jersey. The company is a subsidiary of Illinois-based Mondelēz International. Nabisco's plant in Chicago, a 1,800,000-square-foot (170,000 m2) production facility at 7300 S. Kedzie Avenue, is the largest bakery in the world, employing more than 1,200 workers and producing around 320 million pounds of snack foods annually.
RJR Nabisco, Inc., was an American conglomerate, selling tobacco and food products, headquartered in the Calyon Building in Midtown Manhattan, New York City. RJR Nabisco stopped operating as a single entity in 1999; however, both RJR and Nabisco still exist.
KKR & Co. Inc. is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. The firm has completed more than 280 private equity investments in portfolio companies with approximately $545 billion of total enterprise value as of June 30, 2017. As of September 30, 2017, Assets Under Management (“AUM”) and Fee Paying Assets Under Management (“FPAUM”) were $153 billion and $114 billion, respectively.
Frederick Ross Johnson, OC was a Canadian businessman, best known as the chief executive officer of RJR Nabisco in the 1980s.
Bennett S. LeBow is an American businessman and philanthropist. He is the current Chairman of the Board of Vector Group
Indra Nooyi is an Indian American business executive, serving on the board of directors of Amazon, the largest eCommerce business in the world by net revenue.
Zantigo is the name of a small chain of fast food Mexican restaurants that began operation c. 1999 in Minnesota in the United States and also its predecessor, a separate chain of nearly one hundred locations that existed in the 1970s and 1980s, and after several ownership changes was eventually absorbed into Taco Bell in 1987.
Karl von der Heyden is a German-American businessman best known for his former roles as the Co-Chairman and CEO of RJR Nabisco, and CFO of PepsiCo.
Thomas H. Lee is an American businessperson, financier and investor and is credited with being one of the early pioneers in private equity and specifically leveraged buyouts. Thomas H. Lee Partners (THL), the firm he founded in 1974, is among the oldest and largest private equity firms globally. Lee is currently the managing partner of Lee Equity Partners, a private equity firm he founded in 2006 after leaving Thomas H. Lee Partners.
Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks.
Roger Enrico was an American businessman who is best known for his lengthy service as chief executive officer of PepsiCo.
The Amiga CD32, styled Amiga CD32 and code-named "Spellbound", is a 32 bit home video game console developed by Commodore and released in western Europe, Australia, Canada and Brazil. It was first announced at the Science Museum in London on July 16, 1993, and was released in September of the same year.
Peter A. Cohen is the Chairman and CEO of Cowen Inc., formerly known as Cowen & Company. Prior to his current role, Cohen founded Ramius Capital Management in 1994, which merged with Cowen Inc in 2009. Prior to this, Cohen was the Chairman and Chief Executive Officer of Shearson Lehman Brothers, later known as Shearson Lehman Hutton from 1983 through 1990.
Blair W. Effron is an American financier. Effron co-founded Centerview Partners, a boutique investment banking firm based in New York City. Centerview has offices in London, New York, Los Angeles and San Francisco. Centerview Partners is a leading independent investment banking and advisory firm. The firm provides advice on mergers and acquisitions, financial restructurings, valuation, and capital structure to companies, institutions and governments.
Barbarians at the Gate: The Fall of RJR Nabisco is a book about the leveraged buyout (LBO) of RJR Nabisco, written by investigative journalists Bryan Burrough and John Helyar. The book is based upon a series of articles written by the authors for The Wall Street Journal. The book was later made into a made-for-TV movie by HBO, also called Barbarians at the Gate. The book centers on F. Ross Johnson, the CEO of RJR Nabisco, who planned to buy out the rest of the Nabisco shareholders.