Word: rohatyn
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Dates: during 1970-1979
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...Cabinet colleagues and Nixon advisers. When he left after 15 months, partly in frustration with the President's protective staff, Commerce Secretary Peter Peterson said, "The State Department is having a going-away party; it's now in its 32nd hour." Says New York Financier Felix Rohatyn: "I think he has a rather confrontationist attitude. I don't think that's a viable proposition any more...
...corporations to compete on an international basis." Senator Jacob Javits of New York, the ranking Republican on the Senate Foreign Relations Committee, argued that the U.S. should not force American companies doing business abroad to adhere to antitrust standards tougher than those of the countries where they operate. Felix Rohatyn, a partner in the investment banking house of Lazard Freres, noted that governments in Europe and Japan are urging the merging of some of their own big firms to sharpen their ability to compete in world markets...
...competitiveness in world markets, the purpose of antitrust policy should be to enhance efficiency. Most conference participants felt that a further tightening of antitrust policy might promote inefficiency by immunizing some big slow-moving companies from takeovers and protecting inept managers from being tossed out. Kennedy-Metzenbaum, remarked Rohatyn, "could be called the Large and Inefficient Business Protection Bill." The way to reduce conglomerate mergers, he added, is to improve economic policy. Bringing down inflation would lead to lower interest rates and higher stock prices. Companies then would no longer have the opportunity to buy out firms at fire-sale...
...Felix Rohatyn, 50, partner, Lazard Frères, New York City. He has made only one major investment in the past six months, a house on 2½ acres in Southampton, N.Y. "If worse comes to worse, I can always plant some lettuce and corn and live off the land," he says. Rohatyn is filling his house with antiques because "what I paid $1,000 for this year, I probably could have bought for $300 two years ago, and probably would have to spend $2,000 for a year and a half from now." He also cites as a "spectacularly...
David-Weill has cut Lazard's roster of full partners from 30 to 21. Those remaining, including the best-known of all, Felix Rohatyn, 50, the mastermind of New York City's financial rescue, have agreed to reduce their share of profits to make more money available for recruitment. To move into municipal bond trading, David-Weill hired the top traders at five of the biggest bond houses. Some other heavyweight hires: Frank Zarb, once the Ford Administration's energy czar, and Donald Cook, former chairman of American Electric Power, one of the U.S.'s largest...