Just like any guy? (Banner Industries' Jeffrey Steiner) (company profile)

From: Crain's Cleveland Business | Date: March 9, 1987| Author: | Copyright information

Just like any guy?

NEW YORK--When chairman Jeffrey Steiner met with Banner Industries' board late last year to discuss the possible takeover of a firm seven times Banner's size, the directors had one big worry.

"The only question was 'Should a company like Banner, with $150 million in sales, owe a billion dollars?'" said vice chairman Samuel Krasney, exaggerating the $725 million in debt Banner did incur when it bought Rexnord Inc., a Wisconsin-based mechanical parts firm. Krasney, former chairman and chief executive officer of Cleveland-based Banner, said that under his ...

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