Word: kreugers
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...each other in a race to carry the corporate banner of the oil and gas companies, and to win the resultant prize--an enormous campaign treasure chest. The 1978 Texas Senate race is a classic example of this phenomenon. In all likelihood the contest will be between Congressman Bob Kreuger who led the deregulation fight in the House of Representatives and nearly won, and incumbent Republican Senator John Tower, one of the industry's oldest and most faithful friends...
...suicide is the most elusive question of all. Money problems? Poverty as such does not drive people to suicide; it is the wealthy whose fortunes collapse, like Swedish Match King Ivar Kreuger, rather than those with nothing to lose, who are more inclined to it. Poor health? Physical suffering rarely triggers self-destruction; the incidence among cancer patients is remarkably low. Love? Few really kill themselves for unrequited passion...
...merchant banker's prime asset is his experience in sizing up situations, measuring men and calculating risks down to one sixty-fourth of 1 %. But very often, as Wechsberg notes, he relies on instinct. One day in 1932, Swedish Match King Ivar Kreuger tried to interest the Lehman Brothers in a complicated financial deal. Kreuger talked and talked about his grandiose schemes, while Philip Lehman made a few notes. Then Lehman turned him down: "I have a rule, Mr. Kreuger. If I cannot understand something by reading my notes on the subject...
...Higginson overextended itself. Between 1928 and 1932, it underwrote many millions of dollars worth of Swedish Swindler Ivar Kreuger's efforts to corner the international matchmaking market. After Kreuger's depredations were disclosed, Lee Higginson, among others, was stuck with...
...firm never really recovered. While some of the old partners spent 20 years or more honorably paying off their debts from the Kreuger fiasco, the reorganized firm could never rustle up enough cash for the computers and research staffs to compete with such giants as Merrill Lynch, Pierce, Fenner & Smith-or, on a somewhat smaller scale, Hayden, Stone. Says Hayden, Stone Chairman Alfred J. Coyle, they "couldn't make the costly effort we make in research-the only way a firm can supply the services customers want...