Word: lamberts
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...stroke last week, First Boston lost its takeover titans to two lures: greater freedom and, though each already makes about $6 million a year, bigger rewards. Wasserstein, 40, and Perella, 46, along with high-ranking Colleagues Charles Ward, 35, and William Lambert, 41, abruptly quit First Boston to start a rival firm. Adding to their employer's misery, they immediately began recruiting First Boston co-workers and clients. Their departure, while certainly the most dramatic Wall Street split in years, is only one episode in a broader upheaval and personnel shuffle taking place on the Street. In the wake...
...kind of free-enterpriser the Soviet Union might single out in a blast against capitalism's excesses. Yet Milken now fancies the Soviet Union as a potential client for his fast-lane financial advice. So far, Milken, 41, a centimillionaire and resident wunderkind at the investment firm Drexel Burnham Lambert, has got little further than meeting Mikhail Gorbachev in a crowded room, when the Soviet leader visited Washington and talked with a group of U.S. business executives. But Milken, still pursuing a deal, disclosed two of his proposals last week. In one scheme, Drexel Burnham would help finance U.S.-Soviet...
Still at the center of the investigation, by all accounts, are Drexel Burnham Lambert and Michael Milken, head of the investment firm's junk-bond operation. Since junk bonds, which are high-yield, high-risk securities, are often used to finance takeovers, Milken and other Drexel Burnham employees have had advance knowledge of many big deals and could have passed information to speculators like Boesky. Drexel Burnham admits that in 1986 it received a $5.3 million payment from Boesky for "advisory services." After news of the payment broke, the firm's chief executive, Frederick Joseph, steadfastly ! maintained that internal company...
Lashman disagreed with Lambert's assessment of him. "I honestly believe I did not try to sell people on things they didn't believe in," Lashman said...
...This guy just reeks of conflict of interest, politicking, arm-twisting, and illegal activities," said Lambert...