Word: rohatyn
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...same time, investment banking is losing its old, genteel overtones of Ivy League colleges and gentlemen's social clubs. Companies have got more fickle and change bankers with greater frequency. Says Felix Rohatyn of Lazard Freres, who built his reputation as a deal-maker during the 1960s: "Relationships are no longer as important as individual transactions. There is simply not the amount of long-term trust between clients and their investment bankers that there once...
...while President Reagan's supply-side strategy revolved around a simple program of tax cuts, calls for industrial policy are a collage of complex ideas that have yet to take a definite, agreed-upon shape. "It is like modern art. It means something different to everyone," admits Felix Rohatyn, a New York City investment banker and one of the early prophets of industrial policy. Rohatyn proposes a new Reconstruction Finance Corporation, patterned on the agency created during the Depression to make loans to industries. Politicians have many things in mind when they advocate industrial policy. Former Vice President Walter...
...happy rise last week. Spurred in part by the growing conviction that the Fed Chairman's job was safe, the Dow Jones industrial average rose 46 points, its second largest weekly gain this year, and reached a record high of 1242.19. Said New York Investment Banker Felix Rohatyn: "Volcker's monetary policy has been criticized by almost everybody and is therefore probably right." Reaction on Capitol Hill and in international banking circles was also very favorable. Only a few demurred. Complained Conservative Monetarist Milton Friedman: "President Reagan has decided to take the course of least political resistance...
...have tilted toward home economics, music and driver education at the expense of the math and science needed for jobs in the new high-tech industries. About half of all students take no math after the tenth grade, and 80% drop science. Says New York City Investment Banker Felix Rohatyn: "The more we look at tomorrow's technologies, the more we see a need for higher skills. So far, our educational system really has not been geared to producing those skills." Several companies have decided to help out the schools. Technicians from Texas Instruments, for example, are preparing...
...newest prescription for curing America's economic ills is something called national industrial policy. Its advocates include labor unions, numerous Democratic politicians, a few economists and even some prominent members of the business community, including Felix Rohatyn and Du Pont Chairman Edward Jefferson. The idea comes in different forms and goes by various names. Democratic Presidential Contender Alan Cranston backs Rohatyn's proposal for a new Reconstruction Finance Corporation, patterned on the agency set up during the Depression, to loan money to needy industries. A group of five Democratic Congressmen led by Stanley Lundine of New York introduced...