Word: huttons
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Captains: Chuck Dimitroff, Brad Hutton...
Captains: Chuck Dimitroff, Brad Hutton...
...segments of the financial industry. Most important, few major corporations still borrow from banks; they float their own commercial IOUs. When banks looked for borrowers elsewhere, they ran into one bad risk after another, most notably the Third World countries. Says Katherine Hensel, a banking analyst for Shearson Lehman Hutton: "Just look at the legacy here. On the heels of the ((Third World)) debt problem, other pieces of the pie are beginning to fall apart for banks, such as real estate, LBOs and other highly leveraged transactions. These were pieces of the puzzle that were supposed to generate solid returns...
...Rhodes scholarship to Magdalen College at Oxford. His classmate Bill Bardel, now a managing director of Shearson Lehman Hutton, recalls that Souter belonged to a group that would return so late to their rooms after visiting the local pubs that they would have to climb a ladder to get over the locked gates. Back at Harvard Law School, Souter played the role of courtly gentleman, wearing a three-piece suit to parties and telling stories in his strong New England accent. Says Levine: "No one I've ever met is more fun at a party; he has that British satirical...
...aware of how fast the end came last month for Drexel Burnham Lambert, wags at the brokerage firm of Shearson Lehman Hutton are in pretty grim humor these days. The latest joke making the rounds of the troubled American Express subsidiary: "What's the difference between Shearson and Drexel?" Answer: "About three months...