Word: shearson
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...were investors so eager to buy? The fund earned $20 million for the three months ending Sept. 30. American Express also helped its own cause. When it came to selling the Fireman's stock, its Shearson Lehman Bros. division turned into a high-powered marketing machine. CORPORATIONS "It's Just That Awful Word...
...racking up a booming first-quarter increase of 10.1% at an annual rate. The gain dwindled to 1 .6% in the third quarter but then rebounded to 4.3% in the last three months of 1984. "The economy is exhibiting a split personality," says Allen Sinai, chief economist for Shearson Lehman Bros., "and it may continue to do so for some time in the future...
...confidence of institutional investors like pension funds, which hold more than 60% of CBS stock. Nonetheless, the drawling Southerner remains largely an outsider. When he went shopping for an investment banker for the CBS deal, he was reportedly turned down first by Drexel Burnham Lambert and then by Shearson Lehman. Finally he reached a deal with E.F. Hutton, a relatively inexperienced player in the merger game...
Eagerly seeking out this big-ticket clientele, corporate sponsors like Rolex, BMW and even Harrah's Trump Casino in Atlantic City, N.J., have jumped in and ponied up backing for teams and tournaments. This year Shearson Lehman/ American Express put $250,000 into sponsoring polo, says Marketing Director Cathy Stewart, "because it is changing from an elite to an upscale audience." TV has come acovering. The first major network broadcast, of a Long Island tournament, will be shown on NBC-TV in three weeks. And the sport has its own magazine...
...long, circular journey for Dimon, 47, who was born in New York City with financial data encoded in his genes. Dimon's Greek-American grandfather and father were stockbrokers catering to fellow immigrants in the city, and it was through his dad Theodore, who worked with Weill at Shearson, that Dimon met his eventual mentor. While studying economics (his other major) at Tufts University, Dimon wrote a term paper about one of Weill's earliest takeovers and used it to persuade the Wall Street veteran to give him a summer internship...