Word: dealing
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Dates: during 1980-1989
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...peace accords with Egypt in 1978, and no one expects him to display any less determination in pressing his opposition to negotiating with the Palestine Liberation Organization. Warns a U.S. official who counts the former Israeli Ambassador to Washington as a friend: "It will be tough to strike a deal with Arens." He adds, "But if you have a deal, it sticks...
...Drexel Burnham Lambert discussed the settlement that Drexel had reached that day with federal prosecutors to end the largest probe ever of a U.S. securities firm. Declaring that the long-awaited agreement "makes sense from a business and human point of view," Joseph, 51, tried to be upbeat. The deal, he said, would leave the firm "in a very strong financial position, and allows us to refocus our energies on running the business successfully...
...most influential, go-go investment-banking house of the 1980s. After maintaining for two years that Drexel had done nothing wrong, a shaken board of directors voted 16 to 6 to accept the stiff terms proposed by Rudolph Giuliani, U.S. Attorney for the Southern District of New York. The deal calls for Drexel to plead guilty to six felony counts involving mail, wire and securities fraud and to pay a record $650 million in penalties. Some $300 million of the fine would go to the Government, which has spent an estimated $10 million prosecuting the case...
...return, Giuliani agreed to drop his stated plan to bring racketeering charges that could have crippled Drexel, the fifth largest U.S. securities firm. Before the deal can be completed, however, Giuliani stipulated, a 184- page civil complaint that the Securities and Exchange Commission brought against Drexel in September must be settled by Jan. 10. The SEC could conceivably ask for a larger pool of money to compensate alleged victims, who range from ordinary stockholders to Drexel's clients. Even so, Giuliani declared Drexel's fines and concessions "appropriate punishment." He added, "You do not put corporations in prison...
MOST FRILLS ON A GOLDEN PARACHUTE Gerald Tsai, head of the Primerica financial-services firm, grabbed $40 million in severance when he sold the company, whose holdings include the brokerage firm Smith Barney, to Commercial Credit Group. Part of Tsai's deal: 120 hours free use of the corporate jet and a consulting contract that will pay him additional income for time he spends working in the office on his yacht...