A national grass-roots organization dedicated to opposing...

A national grass-roots organization dedicated to opposing the surge of abusive takeover attacks on American corporations launched a campaign to develop a Southern California chapter. The Coalition to Stop the Raid on America called on state and local officials, businesses and consumers to unite against “greedy raiders whose unscrupulous tactics threaten the American free-market economy.” The group said many companies that survived takeover attempts are so weakened by debt and asset sales that they can no longer compete effectively. The committee’s immediate goal is to influence federal legislation to prevent abusive takeovers.