CORPORATIONS: Merger for Colt

Leopold D. (for Dias) Silberstein, 51, likes to call himself a "professor of sick companies." In the past eight years, he has acquired more than a dozen companies, some sick, some healthy, and built up a thriving empire called Penn-Texas Corp. (TIME, July 25). Last week Professor Silberstein took over a stretcher case: Colt's Manufacturing Co.

The Raiders. Beginning in 1948, the venerable, 118-year-old gunmaker was dealt a crippling blow by a group of raiders who bought up a large chunk of stock. The group, led by David A. Goodkind (a close associate...

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