Word: shearson
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...final reason may be the bull market itself. The effect of stock prices on the broader economy is a subject of considerable dispute: the market has collapsed during business booms and skyrocketed during recessions. But some economists believe in what Allen Sinai, chief economist of Shearson Lehman Bros., calls a "positive feedback loop": a rising economy spurs stock prices, which in turn help to prompt further business growth...
Last week that career change paid off in a spectacular fashion. Lewis struck a single deal that will transform his investment firm, TLC Group, into the largest black-owned business in the U.S. Beating out such rival bidders as Citicorp, Pillsbury and Shearson Lehman Bros., Manhattan-based TLC (stands for "The Lewis Company") signed an agreement to make a $985 million acquisition of Beatrice's International Food division, a profitable hodgepodge of 64 companies in 31 countries that manufacture everything from ice cream to sausages...
...court's ruling involved a suit by the McMahons, who own a funeral home, against giant Shearson Lehman/American Express. Back in 1984 the McMahons charged that their Shearson broker had churned their brokerage accounts, meaning that a variety of trading transactions were conducted solely to increase the brokerage commissions. The McMahons' contract with Shearson provided that disputes involving the handling of the account should be settled by private arbitration. By upholding that provision, the court ensured that brokerages will be able to divert hundreds of lawsuits from the courthouse to the arbitration room. Shearson estimates that it will save...
...voices of caution. Henry Kaufman, a partner at the Salomon Brothers investment firm and one of Wall Street's most famed Cassandras, warned that Greenspan's appointment in the short haul "is a negative both for the dollar and for interest rates." Allen Sinai, chief economist at the Shearson Lehman Brothers investment house, noted that Greenspan "does not have much experience in international finance...
Coniston was less than impressed with Allegis' move. Said Partner Augustus Oliver: "We are currently evaluating it." Translation: a further battle is possible. Allegis stock, meanwhile, closed the week at 86 1/2, up 15 from the previous week. Said Robert Joedicke, an airline analyst for the Shearson Lehman Bros. investment house: "Like a soap opera, this isn't going to be decided tomorrow...