Word: lazard
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...executives go along with or even instigate buyouts because as major shareholders they stand to profit. The resulting companies may be leaner, but often they are also weaker, with little money to invest in expansion or innovation. Says Michel David-Weill, the French senior managing partner of the Lazard Freres investment firm: "The wave of leveraged buyouts is weakening the competitiveness of many U.S. companies that have fought so hard to regain...
...year after Black Monday, the worst day in Wall Street history, an unsettling question lingers: Could it happen again? Yes, answers a senior partner in the Lazard Freres investment banking firm and one of the most respected members of the financial community. The securities markets and the tax system must undergo fundamental reforms, he maintains. Otherwise, inadequate regulation, excessive speculation and overuse of credit could bring on a banking crisis and a stock collapse more damaging than the Crash...
...discuss Dukakis, called the reporter to volunteer an interview of his own. The best mention comes with a self-deprecating disclaimer. The best example was a double bank shot in a Business Week cover on American Express Chairman James Robinson. The article quoted Felix Rohatyn, the head of Lazard Freres and among those most commonly mentioned for Treasury Secretary, as touting Republican Robinson for that job in a Dukakis Administration. Score one for Rohatyn. It then quoted Robinson as saying he has no desire for a Cabinet post. "There was a lot of mirth in the office over that...
...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...