Word: bankers
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Less than two days after that announcement, the Toronto headquarters of Olympia & York lobbed another bombshell by reporting a shake-up of the firm's management. To help confront its bankers, O&Y named a new president to replace Paul Reichmann: Thomas Johnson, 51, the former president of Manufacturers Hanover Trust. As financial advisers, the Reichmanns signed up some well- respected Wall Street names: investment banker James Wolfensohn and Robert S. ("Steve") Miller, who helped engineer the Chrysler bailout 12 years ago. Still, O&Y spokesman Peter Rosenthal stressed that "Paul and Albert remain the primary stockholders...
...suit charges that The Wall Street Journal and Journal reporter Bryan Burrough defamed Freeman in an article about his dealings with international banker Edmond Safra, according to a press release issued by Freeman's attorney...
...alone. In the past three years, nine top Chrysler executives have deserted. They included Greenwald, who left in 1990 to lead an aborted worker buyout of United Air Lines' parent company (after pocketing $9 million for his work on that deal, he landed as a managing director for investment banker Dillon Read); and Robert S. ("Steve") Miller, another vice chairman and prospective Iacocca heir, who quit in February to go to Wall Street after telling the board that the right management team for Chrysler would be Lutz as top man and Miller himself...
...right in country songs," says Kevin Phillips, author of the 1990 book The Politics of the Rich and Poor. "What a perfect backdrop for a recession that is undercutting the American Dream." Clint Black's One More Payment is a classic hard-times complaint about the rent, the banker at the door, and a roof that is crumbling. But the current country songs also hurl Molotov cocktails at the upper classes and the system that favors them. Brooks succeeded last year in making a national barroom anthem out of Friends in Low Places, which turned an abandoned lover's revenge...
...other hand, often get the benefit of the doubt, though there are exceptions to the rule. James Schroeder, whose wife Pat, a Colorado Congresswoman, once ran for President, says his legal career has not suffered and he has never been accused of a conflict of interest. But investment banker Richard Blum, husband of former San Francisco Mayor Dianne Feinstein, says his firm was hampered because he turned down some clients to avoid the appearance of impropriety. "Could I have done better if my wife was home baking cookies?" asks Blum. "I think so." Another Californian, secretary of state March Fong...