Word: moneyman
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Partly for such reasons, a grim mood seemed evident among brokers last week. "If you can survive this period in the business," a Chicago moneyman said, "you can survive just about anything." But some managers saw no end to hard times. Mused Desmond Heathwood, chief investment officer of the Los Angeles branch of Boston Co., a unit of Shearson Lehman: "To have one's job will be the bonus this year...
...muscle behind the bidding is really the legacy of one man: Michael Milken. It is not just that Milken's firm, Drexel Burnham Lambert, is bankrolling the Kohlberg Kravis Roberts bid to the tune of $5 billion. Milken's role is much grander and far more controversial. The boyish moneyman with the tousled toupee and the obsessive work habits has almost single-handedly sparked the frenzy of takeovers and buyouts that has given the Roaring Eighties their name. And his tactics along the way may put him behind bars as a result...
...Exchange simply vaporized, and Exchange Chairman Ronald Li closed it down for four days. When trading reopened last Monday, the value of shares plummeted an additional 33%, to about $50 billion, wiping out a year's gains. "This is not a stock market," said a furious Hong Kong local moneyman. "This is a poorly run casino...
...excitement of a tight horse race. Last week a winner hit the wire: Bank of France Governor Michel Camdessus, 53. When he takes over next month as chief of the IMF, which provides short-term emergency loans to troubled nations, Camdessus will become perhaps the second most powerful moneyman in the world, after Federal Reserve Chairman Paul Volcker...
...Impac's founding members, Nathan Landow, a Bethesda, Md., real estate developer who chairs the party's 1988 convention- site-selection committee. A man fond of speaking in large sums ("We could pledge $6 million to $8 million in a minute"), Landow, 53, looks the part of a big moneyman with his gold Rolex, monogrammed shirt and perpetual tan. More important, Landow delivers: he collected $1.25 million for Walter Mondale...