Word: citibanker
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...shared in the improved second-quarter performance. Steel profits were down 26% from the first quarter, utilities 8%, and aluminum and other nonferrous metal producers 11%. Airlines flew in the red because of high jet-fuel costs and an un-economically low percentage of filled seats. Overall, though, the Citibank study painted a brighter second-quarter earnings picture than many experts had expected. Says Citibank Economist Robert Lewis: "The upturn in earnings is further proof that the economy has begun to bounce back...
Jugular Vein. Other experts, among them Citibank Economist Leif Olsen, doubt that the shortfall will be that severe. Yet the price of avoiding crisis, the optimists agree, will be a sharp scaling down of the nation's investment goals through the mid-1980s. In a recent study sponsored by Washington's Brookings Institution, Harvard's James Duesenberry and two other economists derided "Cassandras" who are forecasting a shortage and concluded that "we can afford the future, but just barely." The Duesenberry study contends that Government can be counted upon to come to the rescue: by running...
Even if oil nations moved beyond their present stated desire for partnerships - since they lack managerial skills - and at tempted to exercise control, that would not necessarily be dangerous. As Citibank's Wriston points out: "The purchase of equity control of a company does not remove market forces and does not remove the law. Lever Brothers is wholly owned by foreigners, and it has to get in and shlep along...
Manhattan's First National City Bank reacted to the Federal Reserve Board's continuing tight-money policy by lifting interest rates on personal loans, and other banks are almost certain to follow. The cost of borrowing for a new car at Citibank, for instance, goes from...
...largest bank, he approached the operation-which employed 8,000 people and had a $100 million budget-as if it were a factory whose product was processed paper. To help him run the factory, Reed recruited experienced industrial employees from Ford and Chrysler. Regarded as a potential successor to Citibank's presidency, Reed has written articles seeking to interest students in corporate careers and is now studying the electronic (paperless) transmission of credit...