Word: citicorp
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...SANDY WEILL has a middle initial but no middle name--one of the few things in life that he has to do without. The consummate dealmaker shook the financial world in 1998, when his Travelers Corp..agreed to buy banking giant Citicorp for $72 billion. In one bold stroke, his financial-services empire, renamed CITIGROUP, went global, with about 100 million customers in 100 countries. To get the deal done, Weill, 68, persuaded Washington lawmakers to end restrictions that prevented U.S. firms from offering both insurance and commercial banking. That paved the way for U.S.-based global financial conglomerates, which...
...money managers. His interests range from his own construction, hotel and oil firms to the stocks of troubled brand-name firms, including Compaq, Disney and Kodak. The prince, who follows the markets by satellite from his yacht, scored his first big win in 1991: $790 million of depressed Citicorp stock that has grown to an $8 billion stake in what is now Citigroup. And he's looking for similar opportunities in today's market...
Alas, you may sigh in disbelief. But indeed, it is with great seriousness that I’ve been advised that the only thing more damning than telling Citicorp you’re only interested in I-banking for the money, more tragic than confusing a call option for a call girl or more unfortunate than printing your resume in Beesknees ITC 12 point font is the grave mistake of not wearing a skirt to an interview. If you don’t want to get hired, the wise ones say, then, by all means, wear pants...
...Rubin, the Clinton Administration Treasury Secretary who stepped down in 1998 at the top of his game (and, as it turned out, the U.S. economy?s) to take a lucrative job with Citicorp, who accompanied Alan Greenspan to a private session of the Senate Finance committee to recommend a temporary $100 billion stimulus package as a way to help the economy get back into some kind of gear...
...helped set off the deal-making avalanche last year by doing away with the Glass-Steagall Act, a Depression-era law that made it illegal for commercial banks to underwrite stocks, bonds and insurance. That removed obstacles to the merger of Travelers Group, an insurance and brokerage behemoth, with Citicorp, one of the nation's largest banking companies...