Word: lazard
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Dates: during 1980-1989
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...People realize that the economy made it through the crash," says Kanter, who will be working at the investment bank Lazard Freres & Co. "Most people came through it safely...
...very top of the list was Michel David-Weill, 54, a senior partner at the Manhattan-based Lazard Freres investment firm. According to FinancialWorld, David-Weill earned an estimated $125 million last year. He had pulled down only an estimated $50 million in 1985. (Lazard Freres disputes the 1986 FinancialWorld figure, arguing that David-Weill earned only somewhere between $65 million and $75 million last year...
...airline by raising $2.3 billion and assuming $2.2 billion worth of the airline's debt. United pilots, who earn as much as $156,000 a year, have volunteered to give up anywhere from 5% to 25% of their salaries to help make the buyout work. A representative of Lazard Freres, the investment banking firm that employees have enlisted to help raise cash for the takeover bid, pronounced the venture "viable." One notable believer in the scheme was Defense Attorney F. Lee Bailey, who anted up a $1.5 million loan at the Chicago rally, where many of the attendees sported...
...answer for $1.5 million. CBS Chief Executive Laurence Tisch's deductions amounted to $1.1 million, while his brother Preston, the U.S. Postmaster General, benefited from a $480,508 write-off. The biggest hit may have to be taken by French Financier Michel David-Weill, who owns 35% of Lazard Freres, a highly successful securities firm. If the Government prevails in the case, he stands to lose at least $4.4 million in deductions...
...firms have imposed unrealistic expectations on their traders and bankers without giving them a solid grounding in old-fashioned ethical values. By pushing salaries and bonuses to outlandish heights, investment firms have turned money into the ultimate measure of success. Declares Felix Rohatyn, senior partner of the investment firm Lazard Freres, in an essay for the New York Review of Books: "Too much money is coming together with too many young people who have little or no institutional memory, or sense of tradition, and who are under enormous pressure to perform in the glare of Hollywood-like publicity...