Word: morgans
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Dates: during 2000-2009
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What a difference a financial crisis makes. Mack has spent much of the past year putting Morgan Stanley on safer ground. He has dramatically lowered borrowing and shut down the firm's proprietary trading desk. He changed Morgan from a Wall Street dealer to a bank holding company, and more than tripled the firm's deposit base, which is a safer source of capital. And in a major break from the bank's 70-year history he de-emphasized investment banking as the driver of Morgan Stanley's profits. In June, he completed the purchase of a majority stake...
...half years ago, at Morgan Stanley's annual meeting, CEO John Mack fielded a question from a worried investor. Mack's firm had had a good 2006 and early 2007, but the questioner was concerned that much of the new profits seemed to be coming from increased borrowing and bets the bank was making with its own capital. Mack answered defiantly...
...financial crisis and its aftermath have dramatically changed investor perceptions, particularly with respect to the soundness of our financial system. In response, big financial firms are changing, but few firms have changed more than Morgan Stanley. The latest sign of Morgan's transformation came two weeks ago when the firm announced that James Gorman would replace Mack in January. Unlike Mack, and nearly every other head of Morgan Stanley, Gorman has never been an investment banker. Gorman, a former McKinsey consultant, joined Morgan three years ago from Merrill Lynch, where he had run that firm's brokerage force. At Morgan...
...Midsummer Night’s Dream,” a framework into which the pimps, hos, and blow atmosphere of the Studio 54 setting fits surprisingly well. Club owner Mr. Oberon (Heather Gordon) uses his Mercury-inspired roller-skating assistant Dr. Wheelgood (Scotty Morgan)—Puck, from the original—to drug his girlfriend Tytania (Rebecca Whitehurst). The scantily-clad disco-diva then falls in love with the local duo of car wash clowns, who make “asses” of themselves while under the influence of Wheelgood’s special concoction. Similarly love...
...space robot. Last May, Madonna wore a pair of Louis Vuitton bunny ears to a gala for the Metropolitan Museum of Art's Costume Institute. Yet even at a place called the Costume Institute, the headpiece looked a little ridiculous. "Of course, Madonna did all the Louis Vuitton ads," Morgan points out, "so I guess it was good synergy." That may be, but she still looked like a rabbit with sculpted biceps...