Word: portfolios
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...Bank, which have surfaced in several academic books and in speeches by congressional leaders, have pushed president Lewis Preston, a former chairman of the J.P. Morgan banking company, to initiate what may become historic changes at the bank. In 1992 he launched an overhaul of the $104 billion loan portfolio and a year later hired New York public relations whiz Herb Schmertz to revamp the institution's image. Schmertz turned in a confidential report several months ago that acknowledged some of the most serious accusations against the bank and said there exists "a significant gap" between what the bank says...
Harvard Private Capital is one of the largest private investment companies in thecountry. At times, however, Sperling and partnerMichael Eisenson were plagued with charges ofovervaluing investments on which their performancebonuses were based. Earlier this decade HMC wasforced to write down $200 million in Aeneasinvestments, 20 percent of the portfolio's valueat the time...
...rabid Chalone fans," says company spokeswoman Sally Gordon of the 1,200 shareholders who showed up for this year's affair. "You can't buy brand loyalty like that." Investor Peter Truce, 43, says he is not worried about the stock: "It's not a major part of my portfolio. It's a fun part of my portfolio...
...huge bonuses earned by the managers are determined by their performance relative to the policy portfolio. This practice especially has come under fire from critics, some of whom have even termed the HMC compensation structure "disgusting...
Critics of HMC have said that in a normal investment firm,. the man agers of that portfolio would have been fired. At Harvard, however, managers Scott M. Sperling and Michael Eisenson paid for their error through smaller performance bonuses that year...