Word: salomon
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...then, with a few adjustments at its power plants, the company began burning oil from Alaska, Australia and Indonesia. Average cost of the new fuel: about $11 per bbl. SDG&E says it is now saving $500,000 to $1 million a month. Analyst Gregory Enholm of the Salomon Brothers investment banking firm estimates that utility rates in the West and the Northeast, where oil-burning facilities are most prevalent, will drop as much as 20% by summer...
...chief economist for Philadelphia-based CoreStates Financial, a bank holding company: "Debt problems have the potential to retard economic growth and, at worst, lead to another recession." And if a slump comes, many debt-laden families could sink into insolvency. Says Henry Kaufman, chief economist for Wall Street's Salomon Brothers: "American households as a whole have never been more exposed to a downturn...
...Salomon Brothers...
...while at the same time eluding takeover bids by other financial companies. But its independence is growing tenuous. Hutton's shake-up could prompt some senior executives and other large stockholders to welcome a takeover offer. That could make Hutton an easier acquisition target for such firms as Phibro-Salomon, the investment company, or Chrysler, which has been seeking to buy a financial subsidiary. While Hutton executives hope that Bell's report will be the end of the overdraft episode, the story may not be over...
Many experts blame affluent individuals like Chambre for much of the borrowing spree. "The coming of age of the baby boomers," says Henry Kaufman, chief economist for Wall Street's Salomon Brothers, "is altering the relationship between consumer credit and income, reflecting this group's greater acceptance of credit." Terry Blaney, president of Houston's Consumer Credit Counseling Service, is blunt: "We have a whole generation of people who have been raised with high expectations. Couple that with all the advertising we see, and you've got a lot of materialistic people. There has to be an adjustment in attitude...