Word: expression
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Dates: during 1980-1989
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...growing conviction among industry watchers, however, that the company will not soon be able to compete successfully. In computers, for example, Wall Street experts generally believe that AT&T will be outstripped by the superior salesmanship of IBM and Digital Equipment. Says Jennifer Proga, an analyst at Shearson/American Express: "A T & T's sales force does not leave one inspired...
...pictures, print-only television commercials, Shearson/American Express calls itself the stockbroker for the "serious investor." Last week the firm did some serious investing of its own. Only ten days after he had read in FORTUNE that Wall Street's Lehman Brothers Kuhn Loeb might be for sale, Shearson Chairman Peter A. Cohen, 37, signed an agreement to buy the old-line investment banker for $360 million. The combined companies will be known as Shearson Lehman/American Express...
...deal adds some important new aisles to the financial supermarket that American Express is assembling and brings an abrupt end to the 134-year-old history of Lehman Brothers as an independent investment banker. Founded in Montgomery, Ala., in 1850 by three immigrant brothers from Bavaria, Lehman Brothers moved its main office to New York City after the Civil War and soon established itself as a major investment firm. It helped finance such struggling young companies as Sears, Roebuck and Pan American World Airways, and one of its partners, Herbert Lehman, served as Governor of New York State...
...American Express, the Lehman Brothers deal is the latest in a series of dramatic acquisitions. After buying Shearson in 1981 for $930 million, it purchased part of the international banking operations of the Geneva-based Trade Development Bank Holding in 1983 for about $550 million and paid more than $700 million earlier this year for Investors Diversified Services, a mutual fund and insurance firm with headquarters in Minneapolis. However, some of its acquisitions have proved troublesome. Profits from Fireman's Fund Insurance, which was purchased for nearly $500 million in 1968, fell 88% in 1983, to $30 million...
...Cambridge Baptist Church on Mass. Ave. is attempting to provide a sanctuary to one or more refugees willing to publicly relate their first-hand experiences in Central America, said Susan Wetherall, a member of the church's Sanctuary Committee. Through its sanctuary efforts, the church group hopes to express its opposition to United States military involvement in Central America, said Jean Chandler, another member of the Sanctuary Committee...