Word: lazard
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Dates: during 1980-1989
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...Glanville, a partner at Lazard Frères. "But I have been watching M.B.A.s in this business for over 20 years, and I have found a great majority of them immature in their judgments. They are inclined to make strong judgments without a background of experience and humility. You don't really learn anything until you've been wrong a few times. If we shut down the business schools for ten years, we would not suffer a very great loss...
...part, the market's glow reflects a conviction in the business community that happy times will return with the incoming Administration. Says Felix Rohatyn, a partner in the influential Lazard Freres investment-banking firm: "Reagan is a businessman's populist. Under the Carter Administration, they considered themselves the whipping boys, overregulated and over-Naderized. Now they all see a better climate coming...
...provocative idea, nonetheless, has spawned a raft of strategies for reversing the nation's economic decay. Senator Edward Kennedy has called for an American Reindustrialization Corporation to promote new investment in business and technology. Felix Rohatyn, a partner in the Lazard Freres investment bank and chairman of New York's Municipal Assistance Corporation, advocates creation of a new Reconstruction Finance Corporation, with $5 billion for loans to failing cities like New York or slumping companies like Lockheed or Chrysler. Management Expert Peter Drucker wants to accelerate the change to computer-age companies and shrink traditional blue-collar employment...
More accurately, it seemed like a scene from Annie, with the failing British Steel Corporation as the orphan child, and the part of Oliver Warbucks played by Ian MacGregor, general partner of Manhattan's Lazard Freres & Co. MacGregor, 67, was hired after nearly a year's search by the British government, which owns British Steel, turned up no one in England to run the moribund firm. Forty names were considered, and two British executives turned down...
...investment banking firm will be reimbursed for losing MacGregor's services. It will receive $1.5 million when MacGregor takes over the company in July. If he does not finish his three-year appointment, up to $1 million will have to be returned. Depending on how well MacGregor performs, Lazard could receive up to $2.6 million more. The exact amount will be worked out by a panel, which includes two Lazard representatives...