Word: salomon
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...move that eased a $3.6 billion takeover of the retail chain. Jefferies has acknowledged receiving a subpoena, and told the New York Times that he was innocent of wrongdoing. Also served was Michael Singer, 37, a former Jefferies senior vice president who | switched in October to the Manhattan-based Salomon Brothers investment firm. Singer resigned his new post last week, but said, "I have done nothing wrong...
...looking for a "white squire" who would buy a major portion of CBS in case a hostile bid seemed likely to succeed. He found Tisch, largely at the urging of CBS Board Member James Wolfensohn, a friend of the billionaire's who is also a former partner at the Salomon Brothers investment firm. According to Wolfensohn, Tisch had become interested in CBS during the Helms takeover crusade, which the investor deplored...
...Bang will eventually become a big bust for purely local firms. British investment houses, they note, are badly undercapitalized compared with their American and Japanese rivals. Britain's largest merchant bank, Morgan Grenfell, has a market capitalization of only $988 million, in contrast to Nomura's ($34 billion) or Salomon Brothers' ($6.6 billion). The worry is that unbridled competition will force many more old-line British houses to merge or go out of business. Says Ian Kerr, a British executive with Kidder, Peabody International: "The City of London has handed itself to foreigners on a plate." Whether that statement...
...miles, representing the total number of passenger spaces available multiplied by the total route mileage that could be flown. Today that capacity has reached 547 billion seat miles, a 43% increase. There are plenty of seats, in other words, to go around. Says Julius Maldutis, an airline analyst for Salomon Brothers investment firm: "The airlines are locked into a low-fare environment from which there is no return." No matter what happens to People Express, its impact on air travel will not be easily undone...
...Harvard that Stockman mounted the first rung on the the ladder up to his current, ridiculously well-paid position with the head gnomes of Wall Street, Salomon Brothers. In the late '60s, Stockman, like many WASPs of his time, was in hiding from the Vietnam war. A self-professed leftie, Stockman chose the Harvard Divinity School as his hideout, but he soon fell under the sway of the smell of power...