Word: morgan
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Condit slipped out of sight about May 10, avoiding reporters who had staked out his office and his apartment in the Adams-Morgan section of Washington, canceling a fund raiser and rushing off after accompanying President Bush to Sequoia National Park. The married Democrat, 53, has not said a word publicly but has issued written statements through his staff. In the first statement, Condit called Chandra a "good friend" (they had met when she came to visit a friend in his office shortly after she became an intern in the Justice Department's Bureau of Prisons) and pledged...
...company's accounting practices, but in defending her turf, Wachner could well redefine tenacious. And she'll have help. Her circle of support includes such corporate heavyweights as former American Express chairman Harvey Golub, a new Warnaco board member, and Citigroup boss Sanford Weill, whose Citibank, along with J.P. Morgan Chase, is part of a collection of banks that will provide Wachner with $600 million in debtor-in-possession financing. That will buy her a few months to try to clean things up. "Under my leadership over the past 15 years, Warnaco has built the best brands in the apparel...
Meanwhile, the entire analyst community is under siege, essentially charged with fueling the irrational ascent of worthless stock via questionable buy recommendations that enriched analysts and their firms. Internet pinups Meeker at Morgan Stanley and Henry Blodget at Merrill Lynch each earned about $15 million for their bullishness in 1999--while those who listened paid dearly. Now we demand accountability...
...short-lived, thanks to recent Federal Reserve rate cuts and rebate checks of up to $600 a household that families can expect by September, compliments of last month's $1.35 trillion, 10-year tax cut. (Singles without kids will receive about $300.) Richard Berner, chief U.S. economist for Morgan Stanley, says that while a recession may have got under way in the spring, the rebates should underwrite modest growth by this fall. (A recession is commonly viewed as two consecutive quarters of shrinking GDP.) Says Berner: "It's likely to be the shortest and mildest [contraction] on record...
...Frederick Poust III dialed his cell phone. As he hit "send," the 27-year-old blew through a stop sign in rural Hilltown Township, Pa., and slammed into the side of a Grand Cherokee. In the Cherokee's front seat, Patricia Pena turned to see her daughter Morgan, 2, bleeding from massive head wounds...