Word: lazard
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...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...
...statement. Said Alice Rivlin, former director of the Congressional Budget Office and director of economic studies at the Brookings Institution: "Their letter helps to restart a national debate on what this country is going to do about poverty." Concurred Felix Rohatyn, a partner of Wall Street's Lazard Freres: "Their ideas may not be politically fashionable, but that doesn't take away from the moral weight of their argument. The issues are still valid...
...tomorrow." Reason: the companies are vulnerable to high interest rates and a down turn in business because of the large loans they have taken on to finance their own purchase. Shad's views echoed those of Felix Rohatyn, a senior partner in the in vestment banking firm of Lazard Freres, who believes that buyouts are too speculative. Says Rohatyn: "We are turning the financial markets into a huge casino...