Word: analysts
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...simply dismiss that defense. Grubman, 49, has spent much of his life puffing up his image. He has lied about his schooling and which Philadelphia neighborhood he grew up in. At the height of the telecom bubble, he saw himself less as a stock analyst than as a power broker, socializing with CEOs, including WorldCom's Bernie Ebbers, and offering them advice. But the newly obtained e-mails, brought to light in New York State attorney general Eliot Spitzer's probe of conflicts of interest on Wall Street, are being taken seriously by those investigating Grubman. The e-mails...
Business associates and colleagues describe Grubman, who occupied an outsize corner office at Salomon's lower Manhattan headquarters, as generally quiet and focused, with few friends, though he would often hog the stage during conference calls. Says a former Salomon analyst: "We'd all just groan. Nobody had the clout to tell him to stop...
...impress the girls. Proud of his father's brief boxing career, he would often cock his arm and make ready to land a punch on your jaw, says a former classmate, Jacob Zamansky. Grubman's first job was in strategic planning at AT&T. He later became an analyst at PaineWebber but made his name at Salomon pounding the table for WorldCom in the mid-'90s, with the stock trading in the teens. As it rose to its high near $62 in 1999, so did Grubman's reputation, and his relationship with Ebbers got downright cozy--Grubman even attended Ebbers...
...That's good for operators, but from a user's point of view, it's not clear yet why the additional horsepower is needed. "A must-have application could pop up at any time," says K.Y. Ng, a stock analyst at securities firm Nomura. "But there isn't one out there right now." Other than live videoconferencing calls, in fact, there's really nothing you can do on 3G phones that you can't do on 2.5G phones, and those have not exactly been runaway commercial successes. (Indeed, consulting firm Analysys estimates that only one-third of people with...
...estimates, Hutchison Whampoa has $14.5 billion in cash and liquid assets on hand, more than enough to cover the additional $10.2 billion the company will need to complete its multicountry 3G buildout. "Funny how people have been slagging off conglomerates for some time," says Nick Ingelbrecht, a technology analyst at Gartner, "but now the idea looks rather good, doesn...