Word: lamberts
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...investment firm Drexel Burnham Lambert has been pictured in an SEC indictment as Ivan Boesky's partner in securities fraud. But the company may have been one of the convicted arbitrager's victims as well. The London Stock Exchange is looking into accusations that Boesky used his network of partnerships to hide from Drexel the size, and thus the potential risk, of stock purchases he made with money he borrowed from the firm. Far from feeling duped, Drexel officials welcomed the probe. Since Boesky is the prime witness against the firm, his alleged backstabbing may erode his credibility. Drexel officials...
Talks then stalled over KKR's insistence that Drexel Burnham Lambert manage the buyout's junk-bond financing. KKR contends that only Drexel has the savvy to sell the record $5 billion in high-yield bonds that is needed. But RJR Nabisco's managers are concerned that the buyout could be jeopardized if Drexel and Michael Milken, its junk-bond wizard, are indicted for securities fraud, which is expected to occur soon...
Take the case of Penn (7-0), first place in the Ivies and the Northeast's only undefeated Division 1-AA team. While the selectors for the Lambert-Meadowlands Trophies--which honor the best teams in the Northeast--think Penn deserves a top ranking, the national Divison 1-AA Top 20 poll has completely ignored the Quakers...
Delaware (6-2), Villanova (5-2-1) and Lafayette (6-1-1)--all listed behind Penn in the Lambert-Meadowlands poll--are nationally ranked in the Division 1-AA poll. But where are the Quakers...
...Luke Lambert, who travelled to Mexico, was spared the problem of returning to his college after an absence. He spent his freshman year and sophomore fall at Dartmouth College, and when he left for his mission, the school's rules required him to withdraw. He says he had been thinking of transferring to Harvard, and, when he returned from his mission, the separation made it easier...