Word: burnham
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...told by concerned activists that ROTC scholarships enable impoverished students to attend Harvard that would not otherwise be able to. So let's go where the rest of the money is: court the investment bankers. I envision a Drexel-Burnham Training Corps, made up of "students," faculty and outside administrators...
When anyone at Drexel Burnham Lambert talks, the Government may soon be listening. Last week the investment firm said it would submit to unprecedented federal supervision as part of an agreement with the Securities and Exchange Commission to settle charges of insider trading and stock fraud. The deal will enable Drexel to proceed with a separate settlement of criminal charges, first announced last December, for which the firm will pay $650 million in fines...
...size of the proposed penalties was enough to provoke a collective gasp among Wall Streeters. Last week a federal grand jury in Manhattan charged junk-bond king Michael Milken, 42, his brother Lowell, 40, and Bruce Lee Newberg, 31, a former colleague of theirs at the investment firm Drexel Burnham Lambert, with a total of 98 felony counts of stock manipulation, insider trading, racketeering and other crimes. The indictment calls for the three accused to forfeit their total compensation of $1.5 billion for 1984 through 1987 (plus interest of $257 million) and pay fines of $3.7 billion. If convicted...
...Ueberroth and Thomas Talbot, a former airline executive from California, would own 30 percent of the airline. Eastern's unions would get another 30 percent of the company in exchange for wage and work-rule concessions. The remaining 40 percent would be held by new investors, including Drexel Burnham Lambert Inc. and Ardshiel Inc., a smaller New York firm...
...home. If he can get all sides to settle on a price, his next job may be more difficult. In its last days, the Reagan Administration stated it had no objections to water marketing (in a memo written by an Assistant Secretary now handling water- project bonds at Drexel Burnham Lambert). But other voices may object to the idea that farmers who receive subsidized water for crops, and further subsidies not to grow those crops, should profit handsomely on the sale of the subsidized water. Willey argues that the profits will be going to produce new public benefits: irrigation systems...