Word: lazard
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Dates: during 1980-1989
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...world of high finance, where an elite group of Wall Street dealmakers commands million-dollar fees for putting together megadollar agreements, Felix Rohatyn is the first among equals. As a senior partner at Lazard Freres, a New York investment-banking firm, he has presided over hundreds of mergers and acquisitions. In October, General Electric Chairman John Welch and RCA Chairman Thornton Bradshaw started talking about a merger over drinks at Rohatyn's Manhattan apartment...
Born in Vienna in 1928, the only son of a brewer, Rohatyn fled the Nazis across Europe, North Africa and South America before landing in the U.S. in 1942. He began working at Lazard Freres in 1949 and twelve years later was named a general partner. In 1975 Rohatyn was one of the chief architects of the financial plan that saved New York City from bankruptcy...
...Delaware court decision, however, struck many financial experts as a potentially dangerous step. Felix Rohatyn, a partner of the Lazard Freres investment firm and one of the most outspoken critics of Pickens-style hostile takeovers, blasted the decision because it violated the principle of investor equality. Said he: "This creates two tiers of stockholders. The vaccine is as bad as the disease. It's crazy...
...industry. That record was topped two weeks later when Hospital Corp. of America and American Hospital Supply agreed to a $6.6 billion marriage. Meanwhile, companies ranging from National Distillers to CBS have become rumored takeover targets. Says Felix Rohatyn, a senior partner in the investment banking firm of Lazard Freres: "The takeover game as it is practiced today is really a little like the arms race. You have to stop it before it gets out of control...
...creation of Geneen, who became ITT's president in 1959 and chairman in 1964. He took what was basically a telecommunications company and transformed it into a vast empire that Author Anthony Sampson dubbed the Sovereign State of ITT. Says Felix Rohatyn, who as an investment banker with Lazard Freres helped put ITT together: "Under Harold Geneen, ITT was a company that essentially knew no limits. He thought anything was manageable." The result was a corporation that in 1979 had 370,000 employees in more than 100 countries. Among its multitude of ventures, ITT is currently manufacturing radar...