Word: held
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...week is sure to be volatile, even as our captains of industry try their best to keep the faith. The CEOs of Bank of America and Merrill Lynch held a joint press conference to discuss in upbeat tones B of A's planned takeover of Merrill, while Treasury Secretary Hank Paulson held a press conference to tell Americans they should remain confident in the "soundness and resilience in the American financial system...
...Should we be confident? Lehman's first day in Chapter 11 bankruptcy actually held some encouraging signs, as markets avoided chaos and the company itself appeared close to selling its asset management arm to a private equity firm. There were also reports that Barclays, which had decided over the weekend not to bid for Lehman as a whole, might still be interested in buying the core of Lehman's business, its broker-dealer operation...
...down so far that other firms land in trouble as well. Merrill Lynch North American economist David Rosenberg predicts that Lehman's demise will begin a long, painful process of unraveling trillions of dollars in derivatives "to identify how big the potential losses are and where they are being held...
...onlookers drawn to the carnage like sharks to blood. Reporters buttonholed staffers, asking what it felt like to lose their jobs. Executive recruiters bustled around, extending business cards to anyone whose suit suggested he or she might be a banker. A man leaning against the building's facade held aloft a printed sign on white letter-sized paper: LOOKING TO HIRE SYS ADMIN. Most employees passed through the scrum without acknowledging...
...Luka Babic made a strong showing for this year’s recruiting class, netting one and two goals, respectively. Junior goalie Nikhil Balaraman also shared the burden in goal, getting the start but yielding in the fourth quarter to freshman Alexandre Popp after making six saves. The rookie held W&J to four goals in the final frame, after the game was well in hand. —Staff writer Max Brondfield can be reached at mbrondf@fas.harvard.edu...