CHAPTER
1
Ross’s philosophy is, “We’re going to have a party, a very
sophisticated, complicated party.”
— * O. C. ADAMS, consulting psychologist to RJR Nabisco
Ross Johnson was being followed. A detective, he guessed, no doubt
hired by that old skinflint Henry Weigl. Every day, through the streets
of Manhattan, no matter where Johnson went, his shadow stayed with
him. Finally he had had enough. Johnson had friends, lots of them, and
one in particular who must have had contacts in the goon business. He
had this annoying problem, Johnson explained to his friend. He’d like
to get rid of a tail. No problem, said the friend. Sure enough, within
days the detective vanished. Whatever the fellow was doing now,
Johnson’s friend assured him, he was probably walking a little funny.
It was the spring of 1976, and at a second-tier food company named
Standard Brands, things were getting ugly. Weigl, its crusty old chair-
man, was out to purge his number two, Johnson, the shaggy-haired
young Canadian who pranced about Manhattan with glamorous friends
such as Frank Gifford and “Dandy” Don Meredith. Weigl sicced a team
of auditors on Johnson’s notoriously bloated expense accounts and
collected tales of his former protégé’s extramarital affairs.
Johnson’s hard-drinking band of young renegades began plotting a
counterattack, lobbying directors and documenting all the underlying
rot in the company’s businesses. Rumors of an imminent coup began
sweeping
the company’s Madison Avenue headquarters.
Then tensions exploded into the open: A shouting match erupted
between Johnson and Weigl, a popular executive dropped dead, a board
of directors was rent asunder. Everything came to a head at a mid-May
board meeting. Weigl went in first, ready to bare his case against
Johnson. Johnson followed, his own trap ready to spring.
As the hours wore on, Johnson’s aides, “the Merry Men,” wandered
through Central Park, waiting for the victor to emerge. Things were
bound to get bloody in there. But when it came to corporate politics,
no one was ready to count out Ross Johnson. He seemed to have a knack
for survival.
Until the fall of 1988 Ross Johnson’s life was a series of corporate adven-
tures, in which he would not only gain power for himself but wage war
on an old business order.
Under that old order, big business was a slow and steady entity. The
Fortune 500 was managed by “company men”: junior executives who
worked their way up the ladder and gave one company their all and
senior executives who were corporate stewards, preserving and cau-
tiously enhancing the company.
Johnson was to become the consummate “noncompany man.” He
shredded traditions, jettisoned divisions, and roiled management. He
was one of a whole breed of noncompany men who came to maturity
in the 1970s and 1980s: a deal-driven, yield-driven nomadic lot. They
said their mission was to serve company investors, not company tradi-
tion. They also tended to handsomely serve themselves.
But of all the noncompany men, Johnson cut the highest profile. He
did the biggest deals, had the biggest mouth, and enjoyed the biggest
perks. He would come to be the very symbol of the business world’s
“Roaring Eighties.” And he would climax the decade by launching the
deal of the century—scattering one of America’s largest, most venerable
companies to the winds.
The man who would come to represent the new age of business was
born in 1931 at the depth of an old one. Frederick Ross Johnson was
raised in Depression-era Winnipeg, the only child of a lower-middle-
class home. He was always “Ross,” never Fred—Fred was his father’s
name. The senior Johnson was a hardware salesman by vocation, a
woodworker