Word: bankers
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...have known for a while that analysts duped investors, advising them to buy stocks that the analysts privately felt should be avoided. Such cheerleading helped the analysts' investment-banker colleagues win lucrative stock-underwriting assignments and boosted the annual bonuses of both bankers and analysts. What's new is the appearance that Grubman and perhaps Weill abused their power to gain the upper hand in such personal matters as gaining entrance to the right school or winning the support of a director in a boardroom coup...
Clark, 57, is an investment banker in Little Rock, Ark., and a commentator for CNN. In an interview with TIME, he wouldn't discuss his plans or the lunch. "I haven't made any decision to run, I haven't declared I'm a member of any political party, I haven't raised any money," he said, adding that he has been traveling the country, talking to groups about developing an American "global vision for the 21st century...
...Toronto Stock Exchange may be dwarfed by the Big Board, but it's certainly faster on its feet. Stymiest, 45, CEO of TSX Group (which owns the exchange), is taking her firm public. A former investment banker, she plans to introduce U.S.-dollar-denominated trading next year to grab back a share of Canadian-stock trades made in the U.S. TSX revenues jumped 26% to U.S. $105 million in the first nine months of this year...
...Turkish politician Recep Tayyip Erdogan does not look like a man so dangerous as to have been accused of "inciting religious hatred." His comfortably furnished offices in Ankara look more like a banker's suite than a fundamentalist's den. Impressionist prints adorn the walls, along with a portrait of Turkey's fiercely secular founder, Mustafa Kemal Ataturk. There isn't a prayer bead in sight. "I am a Muslim," the beardless Erdogan, 48, dressed in a pressed blue suit and red tie, said in a recent interview with Time. "But I believe in a secularist state...
...Lords. GEORGIA Free at Last Kidnapped English businessman Peter Shaw was about to be shot on a mountain path in Pankisi Gorge when he broke free and hid in gorse bushes. He escaped after five months captivity, during which he had been kept chained in a cellar. The banker was seized in June in Tbilisi by a gang disguised as policemen. His unaided escape will do little to enhance President Eduard Shevardnadze's claim that he's asserting authority over the gorge. FRANCE That's All Folks A Red Cross refugee camp at Sangatte, in northern France, shut its doors...