Business Research | October 1988 | 2 weeks | 1 month | 2-4 months | 2 years | 7 years | 11 years | Recap
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Reports to the Securities and Exchange Commission
Two months later
December 1988
KKR and RJR Nabisco file reports with the Securities and Exchange Commission (SEC) detailing the changes in the corporation.

Since publicly-held companies like RJR Nabisco have stockholders, the government requires them to release certain information about their financial status and business dealings. A privately-held company is not required to publish this information.
SEC filings come in many different types, but examples of their content include:
- financial data
- products, markets, and factories
- management and ownership
- reprints of agreements such as joint ventures or new bonds

The following is an external link and will open in a pop-up window.
The U.S. Securities and Exchange Commission web site
Two to Four Months Later
December 1988-Feburary 1989
Government Hearings
U.S. government agencies such as the Federal Reserve, the Securities and
Exchange Commission (SEC), and Congress begin investigations. Concerns
include RJR Nabisco's high level of debt, its effect on stockholders,
bondholders, and company employees, and the cost to taxpayers.

Chairman Markey:
"Has [the SEC division of] corporate finance determined that disclosures were made and procedures employed in the RJR case that were appropriate?"U.S. Congress. House. Committee on Energy and Finance.
Subcommittee on Telecommunications and Finance.
Regulation of Leveraged Buyouts: Hearing.
22 December 1988.
Congressman Edward J. Markey photo from (link will open in a pop-up window) Congressman Edward J. Markey web site

Chairman Bentsen:
"But we're here this morning to examine the problem of the leveraging of corporate America, to see if there's an appropriate legislative response to that kind of a problem."U.S. Congress. Senate. Finance Committee. 1989 Leveraged Buyouts. 101st Cong., 1st sess., 24 January 1989.
Senator Lloyd Bentsen photo from (link will open in a pop-up window) Department of Treasury "Learning Vault" web site

Rep. Oakar:
"But in the Nabisco deal there was about 40 percent invested by the Japanese? Prof. Van Horne: As I recall, it was 40 percent of the senior debt was basically foreign."U.S. Congress. House Banking Committee. Hearing of the House Banking Committee Regarding Leveraged Buyouts. 101st Cong., 1st sess., 7 February 1989.
Congresswoman Mary Rose Oakar photo from the (link will open in a pop-up window) Biographical Directory of the United States Congress
Government documents come in many different types, but examples include:
- Transcripts of Congressional hearings
- Presidential orders
- Rules and regulations from government agencies
- Statistical data such as the Census
- Material that by law must be released to the public, such as SEC company reports
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