Word: salomons
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...unnamed senior executives at the bank--the world's 13th largest--in a conspiracy with him to keep the catastrophe secret from the U.S. Federal Reserve Board. In London interbank lending rates jumped to reflect this latest blow to the Japanese banking system. Says Alicia Ogawa, an analyst at Salomon Brothers in Tokyo: "This new development serves only to increase distrust of Japanese banks...
...weekdays, the time I'm not sleeping, I'mhere. I try to stay away Saturdays, then I come inSunday afternoon," says Esteban Piedrahata '94,who works at Salomon Brothers...
...think it's a terribly stressfulenvironment but a lot of that is how you deal withit," says Richard Shah '94, who works in sales andtrading at Salomon Brothers...
Here's a difference between baseball and Wall Street. Most baseball teams are owned by rich guys like Buffett, and who cares if they lose money? But Buffett is hardly the only owner at Salomon. Since Salomon is a public company, anybody can own a piece of it, and unfortunately a lot of people do. It's been a lousy stock for many years, and one reason is that the top players have siphoned off the profits. It used to be that all the major investment banks were private partnerships a la Goldman Sachs, but others besides Salomon (such...
...curious that more shareholders of investment banks haven't rallied to Buffett's side because this is one labor dispute where it's worth it to root for the owners-especially if you're one of them. Without the benefit of such solidarity, Salomon Brothers last month announced that it was backing down on the reform of the bonus system, so Buffett may have lost this battle. Salomon is beginning to resemble the Pittsburgh Pirates, with the high-priced talent going elsewhere. Again, it's like baseball, with the rival owners hoping that Buffett somehow succeeds so they can rein...