Word: bonding
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...depressed earnings were just one sign of Wall Street's myriad woes. Drexel Burnham Lambert, the junk-bond pioneer, said last week it plans to sell its retail brokerage business, which trades for small investors, and concentrate on large institutional clients. That move and cutbacks in other divisions will slash Drexel's payroll of 9,000 employees by about one-third. In a candid statement, Drexel said "adverse publicity" about its legal problems had helped drive it from the retail market. Earlier this month the company settled a Securities and Exchange Commission suit by agreeing to fire its indicted junk...
Despite their odd quirks and diverse backgrounds, a bond develops between the teammates, and somehow they find themselves winning--a situation that the swanky owner will not tolerate...
Knowing that even their owner wants them to lose and, in fact, does everything she can to make them lose, the players bond together and battle as a team...
...puts Drexel on probation for three years and requires it to set up an oversight committee. The firm is also naming a new chairman, former SEC head John Shad, to succeed Drexel's Robert Linton. As expected, the deal forces Drexel to cut all ties to its former junk-bond king, Michael Milken, who is facing separate criminal charges of racketeering and securities fraud. Last week Milken agreed to set aside assets of at least $600 million, which could be forfeited if he is found guilty...
...workstations has consisted mainly of scientists and engineers. But gradually other users in search of higher performance have been attracted to the machines. The Houston Chronicle has 65 Sun computers in place for its printers and artists, and will soon add 35 more; Greenwich Capital, a Connecticut bond-trading firm, uses five dozen Sun machines...