Word: marwicks
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Dates: during 1990-1999
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...Wall Street during the past two years, more than 60,000 jobs have been lost as merger mania ended and the bull market stalled. Largely as a result, big accounting and law firms that served the merger makers have slashed their partnership rolls. Last month the accounting firm Peat Marwick abruptly dismissed 300 of its 1,875 partners, protecting profits by chopping highly compensated senior talent...
...companies typically invest $1 on acquisitions abroad for every $3 they spend at home, an astonishing ratio considering that the equivalents for France and Japan, runners-up in the takeover league, are 1 to 16 and 1 to 79 respectively. A survey of cross-border takeovers by KPMG Peat Marwick accountants last year showed that British companies spent four times as much on foreign takeovers as their nearest rivals from France and Japan. Nowhere is this activity more evident than in the U.S. The U.S. Commerce Department puts total direct foreign investment in the U.S. at $390 billion, of which...
...negligence or complicity, helped cause the S&L disaster. The Government has filed ten lawsuits against the country's biggest accounting firms, totaling $2 billion, and that figure is expected to rise dramatically. Gripes Joseph Mauriello, a partner with the second largest accounting giant, KPMG Peat Marwick: "They are going after us because we've got the big pockets...