Word: salomon
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...economy gathers strength, the credit needs of private business could collide with the Government's heavy borrowing and push interest rates higher. Some economists fear that a serious slowdown in growth, or even a new recession, could come in 1985. Warns Henry Kaufman, widely respected chief economist for Salomon Brothers, the Wall Street investment firm: "The durability of this economic expansion is going to be significantly limited by the huge deficits in the federal budget." Industry leaders share that anxiety. Says John Smale, president of Procter & Gamble: "The size of the federal deficit is a national problem of substantial...
Some observers doubted, however, that Forstmann Little would have much impact on Dr Pepper. Says Hugh Zurkuhlen of Wall Street's Salomon Brothers: "It's unlikely that Forstmann Little is going to make a big national push with Dr Pepper." Brian Little said the beverage company's officers, including Chairman W.W. Clements, 69, will remain on the job following the acquisition. "We are owners only," Little noted. "We don't get involved in management...
Chrysler then began playing a subtle cat-and-mouse game. Publicly, the automaker feigned a lack of interest, saying it might not even make a bid. But behind the scenes, the company was working with Investment Banker David Schulte, a Salomon Bros, vice president, on a deal. Schulte helped craft a bid by using a formula that subtracts the price of the warrants ($13) from the stock's actual price on the day of the bidding ($29.50). Using that amount ($16.50) as the base price, Schulte had to figure out how much of a premium Chrysler would have...
When the stock market closed last Monday at 4 p.m., a group of Salomon and Chrysler executives was already meeting in the Salomon offices on the 41st floor of 1 New York Plaza in Manhattan. Salomon advised Chrysler to set the premium at $5 and to add 10.20 as a "tail" to make sure there was no tie, making the total bid $21.602 per share. Then at 4:20, just ten minutes ahead of a deadline set by the Treasury, a Salomon agent dropped the bid into a slot in the northwest conference room on the tenth floor...
...purchaser would have a profit of $2,500 ($500 times 5). If the index dropped to 155, he would lose $2,500. Trading in the contracts can therefore be expensive and risky. "These instruments are not for the small investor," says Louis Margolis, vice president of the Salomon Bros, investment banking firm...