Word: salomon
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...Office of Management and Budget in 1981, he was taken "to the woodshed" by the President for publicly criticizing Reaganomics. Stockman admitted that he cooked the figures in the budgets he sent to Congress; his skill with numbers landed him a six-figure job as a managing director at Salomon Brothers, a Wall Street investment house...
Last week Stockman, 41, joined the mass defection from Salomon since October's crash by jumping to merchant bankers the Blackstone Group. He will also start his own affiliated firm, Stockman & Co., thus becoming his own boss at last...
...were profitable when the relatively small number of customers who had earned free tickets could be accommodated in seats that would otherwise be empty. But now the legions of frequent flyers are accumulating freebies rapidly and may already be displacing paying passengers. Julius Maldutis, an airline expert with the Salomon Brothers investment firm, estimates that honoring all those free tickets could cost the airlines $1.24 billion in lost revenue. With some carriers already losing money, the added burden could be devastating. Admits Mark Lacek, director of business-travel marketing at Northwest Airlines: "It's suicide marketing. Insanity...
...provide a complete range of financial services. But the crash has made that goal far more difficult for most firms. A growing number of Wall Streeters now see a virtue in providing more customized services on a smaller scale. Says William Rifkin, a managing director of the giant Salomon investment firm: "This industry is becoming one of boutiques and behemoths...
Matthew E. Stasior '87, an associate consultant at Bain Consulting worked for Salomon Brothers during the summer prior to his senior year, but was not "in love with the hours that financial analysts work" and also did not like the idea of living in New York...