Word: salomon
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...discount rate, from 11% to 10.5%; two cuts had already been made. That credibly signaled easier money after almost three years of an anti-inflationary clampdown. On the 15th, Ronald Reagan gave a speech asking for $99 billion in new taxes to reduce the federal deficit. On the 17th, Salomon Brothers' influential economist, Henry Kaufman, predicted that interest rates on long-term Government bonds would fall sharply...
Rich started his career with Manhattan-based Philipp Brothers, then a quiet company (now Philbro-Salomon) of metals traders. He became something of a protégé of Ludwig Jesselson, the company's head. After assignments in Bolivia and Spain, he returned to New York and built the company's lucrative oil-trading department. He made a killing during the 1973 Arab oil embargo, but the company declined to pay the seven-figure commission he demanded and he left in a huff. With partner Pincus ("Pinky") Green, a fellow Wunderkind trader from Philbro, he established...
...default. Besides Whoops, the defendants include a group of 88 utilities in the Northwest. They had originally agreed to pay for the plants, but later some of them backed out of their contracts. Other suits name such prominent brokerage houses as Merrill Lynch, Prudential-Bache Securities, Smith Barney and Salomon Bros., which enthusiastically sold the Whoops bonds. They are accused of withholding crucial information about the agency's deteriorating finances. Even Moody's Investors Service and Standard & Poors were hauled into court because they gave the bonds high ratings. "They are all responsible," says Melvyn Weiss...
...Chose, with fine French cuisine. Other places you might want to consider are Ahmed's, on Winthrop St., Cafe at the Atrium on Church, and Locke-Obers. No, just kidding on the last one. The super traditional Boston restaurant is out of touch for all but the Chase and Salomon Brothers...
...lower. Today inflation has slowed to less than 4%, and the dollar has become the world's strongest currency. Many experts attribute that remarkable turnaround largely to Volcker. Says Harvard Economist Otto Eckstein: "Volcker will go down as a giant in history." Concurs Henry Kaufman, chief economist at Salomon Brothers: "Volcker has demonstrated an extraordinary capacity as a defender of the integrity of our currency...