Word: lazard
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Dates: during 1980-1989
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...expected to ratify the plan in a vote to be held possibly May 1, making Weirton Steel the nation's eighth-largest steel producer and largest employee-owned company. The deal was worked out with the help of the management-consulting firm of McKinsey & Co., investment banker Lazard Frères & Co. and other consultants. Their fees will be paid partly by the townspeople of Weirton (pop. 28,000), who have joined in planning everything from sock hops to telethons to save the plant...
...management will be chosen by the company's board. When the employees vote on the deal, they will also be deciding who will sit on that board. It will consist of two members from management, two from the union and six outsiders who will be nominated by Lazard...
...warring economic theories have produced casualties. Not the least of them is public confidence, without which no policy can survive. Observes Felix Rohatyn, a senior partner in the investment banking house of Lazard Freres & Co.: "Keynesianism seems to have created a runaway inflation, while supplyside, monetarism and Reaganomics seem on the way to creating a depression. People are not only becoming more skeptical of economic theory, but it is highly appropriate that they do so." Economists will have to trade their old quarrels for some new ideas if they hope to keep that justifiable skepticism from growing...
...some, Citicorp's Wriston contends that the chances of default by a major country are "zero." A nation that defaulted, he persuasively argues, would cut itself off from the world monetary system and be unable to finance essential imports. Felix Rohatyn, a partner in New York's Lazard Frères investment banking firm, disagrees. Says...
...revitalizing industry and promoting technology. At the Versailles summit, French President François Mitterrand urged that governments take the lead in planning the areas of technology that should be pursued and in financing those ventures. In the U.S., Felix Rohatyn, a partner in New York City's Lazard Freres investment banking firm, has called for a new Reconstruction Finance Corporation that would disburse government loans to help rebuild America's industrial base. Critics of this kind of national industrial planning argue, however, that public funds would too often flow not to the most deserving industries...