Word: kuhn
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...owner, Finley hired and fired managers with stunning frequency and handled his players like so many helots. As baseball salaries on other teams soared, his tightfisted policies led to a wholesale desertion by the A's biggest stars. He was forever feuding with Baseball Commissioner Bowie Kuhn, whom he once called "the village idiot"; the most notable battle involved Finley's attempt to sell Vida Blue, Joe Rudi and Rollie Fingers for $3.5 million in cash before they departed in the free-agent market. Kuhn voided the deal, claiming it was not "in the best interests of baseball...
...total attendance of only 495,578 (v. 2,955,087 for the Los Angeles Dodgers, top draw in the majors) and finished last in the A.L. West. That was too much for Finley to bear, and as he exited last week, he took a parting shot at Kuhn: "My having to get out of baseball dates from 18 months ago, when his highness, Bowie Kuhn, canceled my three-player deal. I needed the money very badly at that time to keep my ship afloat. He is probably celebrating...
When Lehman Bros, and Kuhn Loeb announced merger plans last week, the proposal engendered much fear and trembling in the financial community. It was an indication that not even the most venerable and standoffish Wall Street houses can withstand the agonies of attrition that are engulfing the brokerage and investment banking business. Some other indications: 384 member firms of the New York Stock Exchange reported total profits for the first nine months of 1977 down 61 % from a year earlier, mostly because of competitive price cutting on commissions; more than 100 firms suffered losses. In the past five years...
...combination of Lehman Bros. (founded in 1850) and Kuhn Loeb (founded in 1867) has rather a special rationale. Although both firms are leaders in the domestic investment banking business (basically, the underwriting of new stock and bond issues), Lehman has specialized also in money markets, commercial paper and U.S. Government securities. Kuhn Loeb is a major underwriter and adviser to scores of foreign governments from Austria to Venezuela. To underline this distinction, the name plate at U.S. headquarters in New York will be Lehman Bros. Kuhn Loeb Inc., while abroad the firm will be known as Kuhn Loeb Lehman Bros...
...protégé of Illinois Senator Charles Percy, Peterson succeeded Percy as chief of Bell & Howell in 1963, served in various capacities in the Nixon Administration (including Commerce Secretary), joined Lehman in 1973 and within months became chairman. The aristocratic John Mortimer Schiff, 73, now chairman of Kuhn Loeb, will become honorary chairman, and Harvey Krueger, 48, who is now president, will become chairman of the banking policy committee. But the amalgamation would seem to be more of a takeover than a merger, since the Lehman faction will control seven of the ten seats on the executive board. Moreover...