Word: shearson
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...expansion in peacetime history still has plenty of life left in it. The unemployment rate dropped in April from 6.6% to 6.3%, its lowest level since early 1980. Even with 7.5 million Americans still jobless, the economy is "much stronger than anyone thinks," says Allen Sinai, chief economist of Shearson Lehman Bros...
...into at least a slow turnaround. For sure, we've passed the worst," said Allen Sinai, chief economist for Shearson Lehman Brothers...
Nonetheless, as New York Bankruptcy Judge Howard Schwartzberg assumed his overseeing duties with Texaco, it seemed to many analysts that the company had suddenly gained the upper hand in the high-stakes brawl it had appeared to be losing. Said Sanford Margoshes, an oil analyst at the Shearson Lehman Bros. investment firm: "Texaco has bought time. Its prospects are not as bleak." Wall Street seemed to agree. When the New York Stock Exchange opened trading after Texaco's bankruptcy filing, the company's stock dropped from 31 7/8 to 28 1/2 a share. Then the holdings rebounded, closing last week...
...critique of what he called the U.S. "corpocracy," management that was "bloated, risk-averse, inefficient and unimaginative." After such a harsh assessment of big business, it came as a surprise when Darman, 43, announced last week that he was leaving the Reagan Administration to become a managing director at Shearson Lehman Bros., one of the nation's largest investment-banking firms...
...York Times, quoting lawyers close to the investigation, reported that Jefferies bought the stock at the request of Salim Lewis, a financier who has had business dealings with American Express chairman James Robinson. The SEC issued subpoenas to American Express and the two investment firms that managed the offering, Shearson Lehman Bros., which is an American Express subsidiary, and Salomon Brothers. None were accused of any wrongdoing. Robinson told TIME that he had also been subpoenaed personally, but said, "I absolutely and unequivocally deny any wrongdoing by me and, as far as we know, by anyone at American Express...