Word: mergers
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...junk bonds during the late 1980s, the company chose its deals with care. (Morgan did come up short in one notable fight, however, when it assisted Paramount Communications in its failed $12.2 billion hostile bid for Time Inc. last year on the eve of the company's planned merger with Warner Communications.) Under Chairman S. Parker Gilbert, 56, the stepson of co-founder Harold Stanley, and President Richard Fisher, 53, Morgan hedged its bets by diversifying into many different fields rather than putting all its money into one or two fashionable trends. At the same time, top investment banker Robert...
...Japan some 500 of Morgan's 600 employees are Japanese, most of them hired right out of the best schools or lured away from prominent local firms with promises of career paths to top- ranking posts. One area of expertise Morgan has brought to Japan is cross- border merger advice, a field in which the company ranks No. 1. Morgan is also prominent in Europe, where it completed $20.5 billion in cross-border bids last year. Yet Morgan avoids coming on like a Yankee juggernaut, preferring instead to work within the old-boy networks favored by many European executives...
...Wall Street's merger machine has run out of gas, largely because corporate America has loaded up with all the debt it cares -- or dares -- to take on. Wall Street is suffering a dearth of deals, but no one is shedding tears for it. The flashy wealth displayed by investment firms has created a backlash on Main Street, which watched with mounting fury as Wall Street got rich through paper-shuffling deals that manipulated companies at the expense of workers and communities. "There's a lot of pent-up anger and disgust with behavior on Wall Street," says Samuel Hayes...
...last week, Kohl won his coalition government's approval for talks with East Berlin on a monetary union that would make the deutsche mark the currency in both Germanys. He also set up a Cabinet-level committee to devise specific plans and legislation for political unification. Discussions on the merger would begin with the new East German government to be elected on March...
...just the sort of event that India and Pakistan fear could provoke a fourth war. There had been a huge rally in Sialkot, Pakistan, to mark a nationwide strike protesting India's crackdown on Muslims in the state of Jammu and Kashmir who are agitating for independence or merger with Pakistan. Afterward, about 4,000 people marched to the village of Suchetgarh and threatened to cross into India. Pakistani rangers tried to stop them, but 150 protesters pushed through, chanting anti-India slogans and setting fire to bushes and grass. Indian border troops warned the encroachers, then fired, killing three...