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...negotiations continued through Thursday. Between meetings with Pennzoil, DeCrane and Kinnear were huddling with their team of advisers, including Boies, Investment Banker Donald Brennan of Morgan Stanley, and Gibson Gayle, a lawyer with the Houston firm of Fulbright & Jaworski. Several members of Texaco's board of directors hastily flew to Houston, among them Robert Beck, former chairman of Prudential Insurance, and Frank Cary, former IBM chairman. Other directors, including Thomas Murphy, chairman of Capital Cities/ABC, went to Texaco's White Plains headquarters to join the talks via conference calls. All week long board members debated whether or not the company...

Author: /time Magazine | Title: Texaco's Star Falls | 4/20/1987 | See Source »

...interest income and sharply reduced bank profits would force U.S. lenders to give in to its demands for easier terms. But now that several major banks no longer assume they will receive Brazilian interest anytime soon, the debtor's threat to withhold payment indefinitely is less menacing. Says one banker: "We are saying to Brazil, 'We can survive.' " New negotiations begin this week in Manhattan between representatives of U.S. banks and Brazilian banking and government officials...

Author: /time Magazine | Title: A Case of Bottom-Line Blues | 4/13/1987 | See Source »

...unfolding Wall Street scandals, outgoing Securities and Exchange Commissioner John S.R. Shad has been dismayed by how many of the indicted traders are graduates of top business schools. Last week, to bolster ethical training at his alma mater, the Harvard Business School, former Investment Banker Shad made a reported $20 million down payment on a gift that other alumni contributions will eventually bring to $30 million, the school's largest gift ever. The money will endow chairs and underwrite case studies in ethical issues. In the words of Dean John McArthur, it will allow ethics "to be imbedded...

Author: /time Magazine | Title: Education: Banking On Ethics | 4/13/1987 | See Source »

...Merrill Lynch last week's accusations were a shock, even though the company was not accused of making any profits from the alleged insider dealing. It was still an end of innocence, since Vaskevitch was the firm's first investment banker to get caught up in the insider-trading scandals. Moreover, the involvement of so high an executive in the largest U.S. brokerage firm sent new waves of shivers through Wall Street. According to the rumor mill, which is now more preoccupied with subpoenas than proxy statements, as many as 60 Wall Streeters will be accused in connection with...

Author: /time Magazine | Title: The Insider: Scandal Travels Abroad | 3/23/1987 | See Source »

Blake hit again midway through the second overtime, driving the baseline for a banker and a 62-60 Springfield lead. Then Cambridge senior Lance Dottin (17 points) fought back, sinking two free throws with :08 left to send the contest into a third overtime...

Author: NO WRITER ATTRIBUTED | Title: Cambridge Cagers Lose State Crown in Overtime | 3/17/1987 | See Source »

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