Word: stockings
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Amid Wall Street's glee, though, some investors are sounding alarms. They point out that a large part of the stock-market gain has been caused by the boom in mergers and leveraged buyouts. The massive stock purchases involved in those deals push up prices in general, but the buying is financed by huge loans that could shake the banking system if they go sour. Says Robert Salomon, director of stock research at the Salomon Bros, investment firm: "All this takeover activity is fine and dandy, but let's not forget that we are swapping equity for massive amounts...
...company. He and eight Revlon board members had agreed to step down to allow for a trouble-free transition to the new owners. Under an agreement worked out with Revlon's board of directors two years ago, Bergerac will get a parting package worth about $35 million in cash, stocks and stock options. This is believed to be the biggest of the so-called golden parachutes ever paid...
...joggers, also include former top competitors in skiing, tennis, basketball and volleyball. Weisel's draft choices have proved to be a smashing success. Montgomery, after 14 years in operation, has leaped into the ranks of the top 20 U.S. investment companies and now conducts more business than any other stock firm outside Wall Street...
...boss's locker-room mentality, though, is not the only reason for Montgomery's success. During the past four years, Weisel has raided Wall Street for top talent, sometimes regardless of athletic ability, by luring prospects with the opportunity to own stock in his brokerage by the bay. One important catch was Alan Stein, a Goldman Sachs veteran who transformed Montgomery's investment-banking division into a big-time operation that expects to underwrite almost $1.5 billion in securities this year, up 200% from...
...been in trouble since the summer, when Atlanta Entrepreneur Ted Turner launched a $5.4 billion takeover bid. The company escaped Turner's clutches by buying back 21% of its stock, but it did that by taking on increased debt, which has forced the firm to cut expenses and trim its staff...