Word: citibank
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Dates: during 1980-1989
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...helped touch off the market's buying frenzy. That story was still evolving when Ungeheuer had to deal with news that Citicorp was bidding for the Fidelity Savings & Loan Association. "I had seen the move coming two years ago, when Citicorp Chairman Walter Wriston indicated to me that Citibank would be reaching out for a savings and loan at the earliest opportunity," said Ungeheuer. He went to work on the Citicorp story as well. In the meantime, TIME'S editors decided a separate story was needed on interest rates to augment the Wall Street coverage; Ungeheuer was asked...
Some of the riskiest loans in recent years were those made by such big money-center banks as Chase Manhattan, Citibank and Bank of America to Eastern European countries. Today those nations look like so many financial dominoes. In recent weeks Western bankers have been working to devise a rescheduling plan for at least part of the $25 billion that Poland alone owes...
...Oklahoma bank had assets of only about $525 million, or a mere fraction of those held by large commercial lenders like New York's Citibank, which counts nearly $105 billion in assets. Yet the tremors from Penn Square's fall were felt far beyond the bank's stuccoed shopping-mall office...
...collection agencies in the U.S., all with varying methods and successes. One of the largest law firms in the business is Long Island's Sharinn & Lipshie. At any given moment, it is trying to get about 20,000 debtors to repay about $10 million to such clients as Citibank and General Electric Credit Corp. It starts with a series of three warning letters that cost the creditor $5.50. Eventually, it claims collections...
...Wilson, chairman of Boeing: "We're betting on the downside. If we bet on a fast recovery and it didn't happen, we could be in real trouble." Even Walter Wriston, the eternally optimistic head of the Business Council and chairman of New York's Citibank, tempered his upbeat remarks with ominous words: "We've had some big bankruptcies already, and I think there'll be more...