Word: kidder
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...Shearson Lehman Brothers bought E.F. Hutton this week and Business Week reported that many of E.F. Hutton's 18,000 employees will be "redundant" when the two corporations merge. Salomon Brothers lad off 800 workers this fall, Citicorp eliminated 1000 positions or one-tenth of their total employment, and Kidder Peabody also laid off 1000 workers...
...Michael Becker's woes won't bring tears to your eyes, but there's no need to snicker. Becker, 29 and single, works as a broker for Kidder Peabody on Wall Street. He earns a six-figure salary, likes his restaurants expensive and vacations in Africa, French Polynesia, Australia and London. This week he was scheduled to close on a loft apartment, but last week found him on the phone, pleading with his lawyer to extricate him from the contract. "I even told the shoeshine boy, 'I can't afford a shine today,' " he laments...
...little more independent from the world markets," said Dennis Jarrett, a technical analyst for Kidder, Peabody...
Dennis Jarrett, technical analyst for Kidder, Peabody & Co., agreed: "The probability of a straight upward movement from where we were on Monday is very, very low. We normally have a bounce, but we have to go back and rebuild...
Boesky had fingered Martin Siegel, a former Kidder merger specialist who supplied the arbitrager with tips on takeovers. After Siegel pleaded guilty to criminal charges, authorities alleged that Kidder should have known what Siegel was doing. General Electric, which owns 80% of Kidder, struck the SEC deal to avoid prosecution -- and to put the scandal in the past. Even as the settlement was announced, GE pumped $100 million in capital into the brokerage...