Word: kidder
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...told The Associated Press. PaineWebber says it is cooperating fully with the SEC's review. The SEC is also reportedly investigating partnership sales practices of other Wall Street firms, including Merrill Lynch & Co. The probe comes at a bad time for PaineWebber, which is in the process of acquiring Kidder, Peabody Group, Inc. and trying to retain Kidder brokers...
...brightest people I've ever met," says Waxenberg, who has known Cole since high school and is an assistant vice president for the investment bank Kidder, Peabody and Co. "His verbal skills and his math skills are first-rate across the board. We're talking about a guy who could do anything he wanted...
...have a brokerage account at either Paine Webber or Kidder Peabody, you may want to get ready for some changes. Paine Webber announced it will buy Kidder Peabody from General Electric for $670 million. The move will make Paine Webber the fourth largest brokerage firm in America, after Merrill Lynch, Smith Barney and Dean Witter. On the bright side, the move should strengthen the firm's already considerable research and investment resources. On the down side, though, some analysts speculate that as many as half of Kidder's 5,000 employees may be laid off eventually...
...Like Kidder, NBC has from the start been a bruising journey into uncharted territory for GE. Close observers trace the declines in ratings and morale at the network to Welch's decision to install Robert Wright, who had been president of GE Financial, to run NBC. Wright promptly slashed budgets, laid off workers and, critics say, treated the business of providing news and entertainment as if it were indistinguishable from making loans or refrigerators...
...lessons of NBC and Kidder might suggest that GE does best when it sticks to markets that it already knows. But allegations directed at the company's industrial-diamond and jet-engine businesses show that GE has been unsteady there as well. Insisting that GE had done nothing wrong, Welch refused a Justice Department offer in February to settle the diamond probe with a plea of no contest. "We think our chances of winning are good," he says, "but you never know before a jury...