Word: chairmanships
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...movie called simply Campeau, which traces the career of the Ontario-bred real estate king, Robert. Never mind that Campeau's quixotic takeover of the U.S. department-store chains Allied and Federated led to bankruptcy for both, or that even his own holding company ousted him from its chairmanship. The movie's makers acknowledge that theirs is a "generous" view of Campeau as an enterprising hometown hero who made fortunes for others before falling victim to a nefarious "Wall Street milieu...
Jeffries, after all, has published next to nothing; he has no academic reputation of which to speak. His chairmanship is an ongoing insult to the whole notion of black studies at CCNY...
...vehicle for Neuharth's reinvigorated ambitions is the Freedom Forum of Arlington, Va., formerly the Gannett Foundation, whose assets consisted entirely of stock donated by the communication firm's founder. Upon retirement, Neuharth retained the foundation's chairmanship. Last year he infuriated his former employers by deciding to sell all that stock -- 10% of Gannett's shares -- to the highest bidder. Reason: dividends on the Gannett stock were less than the amount the institution is required to give away...
When billionaire financier Warren Buffett announced he was assuming the chairmanship of Salomon Brothers on an interim basis last week, he stepped into a morass that threatened to grow worse for the 81-year-old Wall Street firm before it got better. In fact, Buffett's salvage job began even before he was able to warm his new seat. The Treasury Department, in an attempt to restore confidence in the market, barred Salomon from bidding at further auctions. In a series of telephone calls with vacationing Treasury Secretary Nicholas Brady, Buffett successfully lobbied for leniency. Salomon was permitted to trade...
Buffett, who owns 16% of Salomon's preferred stock and a legendary reputation for his investing, if not his investment-banking, savvy, assumed Solly's chairmanship after the board forced chairman John Gutfreund and two other top executives to step down. Buffett immediately brought in Deryck C. Maughan, 43, who until recently ran Salomon's Asian operations from Tokyo, and jettisoned two bond traders. Executives admitted that the firm had violated the rules that prohibit any one bidder from buying more than 35% of a single issue at a Treasury auction, and that they had skirted regulations barring a firm...