Word: lazard
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Dates: during 1950-1959
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...sell only 3,000,000 shares. But demand proved so great that Lehman increased the offering to 16 million. The response amazed all Wall Street, which had no idea there was so much money available from small investors, particularly during a recession. Sparked by Lehman's success, Lazard Freres & Co. announced that it will start a mutual fund, the fifth to be launched since January...
American Airlines President C. R. Smith led off the week's witnesses, declared flatly that American needs a 15% increase in fares in order to finance its new jets. He got statistical backing from Edwin H. Herzog, general partner of Wall Street's Lazard Freres & Co., who said that American's earnings, running at a rate of $18 million to $20 million in 1955-56, will have to increase to $25 million to $26 million annually to support the necessary financing...
...notable byproduct of Vogel's victory was his apparent defeat of two mighty Wall Street investment houses−Lehman Bros, and Lazard Freres−who are dissatisfied with Loew's management (TIME, Nov. 12). Lehman and Lazard figured to control about 3,000,000 of the 5,336,777 shares outstanding. Yet last week they voted only 150,000 shares for the rebel cause. A Lehman-Lazard spokesman contended that the two firms can still control approximately 3,000,000 shares. But they do not appear to want to lead a proxy fight themselves, nor do they support...
...would comment on President Vogel's charges. As for Louis B. Mayer, he denied everything. "Vogel?" he glowered. "I don't know what he's talking about." About the only interested parties who have said nothing publicly throughout the fight were Investment Bankers Lehman Bros, and Lazard Frères & Co.. who control about 20% of Loew's 5,336,777 shares outstanding. Their votes will probably decide any proxy fight...
...they must find a competent man to replace Vogel. They have already offered the presidency to Leonard Goldenson, president of American Broadcasting-Paramount Theatres, Abe Schneider, vice president of Columbia Pictures, and Lew Wasserman, president of Music Corp. of America. All three turned it down. Said the Lehman-Lazard spokesman: "At February's annual meeting, the two investment companies will be able to walk in and take control without a fight-provided they find the right man to direct the company. If they do not find the man, it is anybody's guess what will happen to Loew...