Word: rohatyn
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...apartment and homes in Westchester and on Martha's Vineyard. A major Democratic donor, Rattner's brains and ambition have propelled him to the top, but he has made enemies along the way. In a now famous New York magazine profile, his onetime Lazard Frères mentor, Felix Rohatyn (Bill Clinton's ambassador to France), accused Rattner of being a social climber averse to public service and cultural pursuits. Rattner now sits on the board of a variety of charities as well as the Metropolitan Museum...
...merger madness [ECONOMY & BUSINESS, Dec. 23]. There is nothing inherently wrong with mergers. Our corporation has often taken a stroll down acquisition avenue. But when we take over a company, we do it because we want to run it. People who issue junk bonds are different, as Felix Rohatyn points out. They are not interested in companies as institutions, but want to break up the business they are after. Takeovers using junk bonds rob stockholders of the value of their investment, throw employees out of work and make the American economy less competitive with the rest of the world. Nothing...
...mixed. Drexel Burnham Lambert, the investment firm that first used junk bonds, called the decision "unwise and unwarranted." Drexel points out that of the $18 billion worth of junk bonds issued last year, less than 20% was used in takeovers. One supporter of the Federal Reserve was Felix Rohatyn, a partner of Lazard Freres, an investment banking house, who has been a critic of the use of junk bonds in hostile takeovers. Said he: "This was a sound step to curb the most extreme uses of junk bonds...
...about new ways of doing things. Sponsored by Presidential Hopefuls Jack Kemp, a Republican Representative from New York, and Bill Bradley, a Democratic Senator from New Jersey, the two-day conference attracted such luminaries as Jacques Attali, counselor to French President François Mitterrand, New York Investment Banker Felix Rohatyn and Yusuke Kashiwagi, board chairman of the Bank of Tokyo. No agreements were reached, but a consensus emerged: more must be done to narrow currency fluctuations...
...Colin Powell and Rice were there, along with a host of lesser Bushies. But none of them did the talking. Instead, five outsiders briefed the President, among them Michael McFaul, a Democrat and a Russia expert and Rice colleague from Stanford; Tom Graham, a Republican think-tanker; and Felix Rohatyn, the New York investment banker who was Clinton's ambassador to France. The surprising cast included two Brits--Lionel Barber, editor of the Financial Times, and the left-leaning Oxford scholar Timothy Garton Ash. For 2 1/2 hours Bush listened and asked questions. "He hasn't thought a lot about...