Word: salomon
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...Salomon, 27, reportedly repaid the prince's hospitality by recounting fond recollections of her sojourn like this nugget: "Everyone was sitting around the swimming pool looking glum, when Andrew suddenly grabbed Koo and ripped off her bathing suit. Then he went to another girl and pulled at hers." Among her other dispatches from the isle of Mustique: the prince running around in the buff and attempting to jam a live lobster down the bathing suit of a young lady. Prince Charles, 33, meanwhile, is plagued by rumors about a "royal tiff" with his wife Diana, 21. Newspapers, after apparently...
...Stanley Shopkorn of Salomon Bros., the true riddle of the economy at this point is whether the market is seeing a real business turnaround, or "merely reacting to the Federal Reserve attempts to create one." Out in America's mines, ills and factories, the mood remains dark. Many businessmen have been crushed by two years of economic stagnation, foreign competition and a shrinking U.S. industrial base. It will take more than rising stock prices or election-year easing on credit by the Federal Reserve to convince them that the long economic winter is finally over. -By John S. DeMott...
...clear winners in this war so far have been not the main combatants but their hired guns. Bendix employed two of the best-known investment banking firms, Salomon Brothers Inc. and First Boston, as well as three main law firms, along with three different public relations agencies. In all, the four companies are estimated to have spent $20 million on outside help of one sort or another. Was it money well spent? At one point in the thick of last week's battle, one investment banker observed of Bendix and Martin Marietta: "Both companies have wound up paying...
...regular staff meeting with two senior portfolio managers and two top traders. As an executive vice president of Chemical Bank, Rolland manages $11 billion in trust funds. One of his staffers told him that there was a rumor around Wall Street that Henry Kaufman, chief economist at the Salomon Brothers brokerage firm, had changed his forecast and was about to predict publicly that interest rates were coming down...
Rolland called a friend at Salomon to confirm the rumor, and then acted fast. By the end of last week, he had moved nearly $1 billion into the stock market. Says Rolland: "Once we made up our minds, we never looked back...