Word: rohatyn
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...Administration's reluctance to offer companies protection against takeovers may be tested in the new Democrat-controlled Congress. A number of suggestions for legislative reform are already beginning to percolate. Felix Rohatyn, a partner in the New York City investment-banking firm of Lazard Freres and a longtime critic of the stock market's speculative excesses, has proposed a sharp limit on the right of Government-insured pension funds, thrift institutions and trusts to invest in junk bonds. He suggests that takeover bids that are conditional on anticipated junk-bond financing be forbidden as an unfair manipulation of public markets...
...Last week, as the 57th anniversary of that dire event rolled around, new voices raised similar cautions. Said Robert Reich, a lecturer in public policy at Harvard's John F. Kennedy School of Government: "In America, industry has become the plaything of finance." Banker Felix Rohatyn, a partner in the Manhattan investment firm of Lazard Freres and a frequent critic of Wall Street's excesses, goes further. Says he: "Now the whole world is a casino. Las Vegas, at least, closes at 5 a.m. This thing does...
...first," he said. Age has begun to take its toll. Though in apparent good health, Paley has slowed down considerably and suffers from memory lapses. Yet friends describe him as still capable of wielding influence. "He is the most competitive person I've ever met," says Financier Felix Rohatyn. "It was obvious that Bill was watching with a great deal of sorrow and frustration as this great enterprise that he built began to fray at the edges...
...young into the habit of giving. But organizers are already worrying about "compassion fatigue." Pop charity may turn out to be one more passing fad. At the upper end of the economic scale, some wonder if charity is in danger of succumbing to chic. New York Financier Felix Rohatyn, who along with his wife Elizabeth has launched a small crusade against events that concentrate more on social glamour than helping worthy causes, is concerned that the pet charities of the New York rich, the favored museums and cultural institutions and hospitals, will sop up money that could be better used...
...acquisitions are reshaping virtually every corner of the corporate landscape. While megadeals were once limited mainly to oil and other natural- resources giants, they are now affecting companies ranging from moviemakers to missile manufacturers. Says Felix Rohatyn, a senior partner in the investment banking house Lazard Freres and a principal architect of the GE and RCA merger: "In my 35 years of business, I have never seen anything remotely approaching this year's tidal wave of takeovers, mergers and buyouts of every size and shape, including both very good and sound ones and extremely ill- conceived ones...