Word: mellonized
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...still face profitability challenges," Mellon Bank Chairman J. David Barnes warned shareholders a year ago in the Pittsburgh-based institution's annual report. It was an accurate prophecy. The nation's twelfth largest bank holding company (current assets: $34.4 billion) earlier this month reported a quarterly loss of nearly $60 million -- the first in its 118-year history -- and watched shares plummet in just nine days from nearly 51 to around 38. Last week Barnes, 57, faced a new challenge: finding a job. One of the nation's best-known families of financiers and philanthropists had taken charge again...
...Mellon Bank, Latin debt is contributing to a dismal financial situation. Last week the Pittsburgh-based institution announced it would post a first-quarter deficit of between $55 million and $65 million, the first in its 118-year history. Mellon will also cut its quarterly stock dividend in half, to 35 cents a share. Besides the $10 million worth of losses on Brazilian credit, the bank is reeling from bad industrial, energy and real estate loans...
Fourteen humanities scholars have been awarded fellowships to teach and do research at Harvard next year, the Andrew Mellon Faculty Fellowship Program has announced...
...year old Mellon Fellowship program is designed to help junior faculty obtain tenure posts at their schools by giving them an opportunity to "demonstrate their scholarly potential," said University Marshal Richard M. Hunt, the program's director...
...past, most Mellon fellows have taught their requisite course in the departments with which they are affiliated. But more than half of next year's fellows said they planned to teach a seminar...