Word: unterberg
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...cash in return for some of their holdings. If the firm has good potential or a good product, it has usually already attracted the attention of investment bankers, who aggressively seek out prospects to earn the profits that come from underwriting the initial public offering. Says Chairman Thomas Unterberg of New York City's L.F. Rothschild, Unterberg, Towbin, a leader in new issues: "Getting there first is very important. The firm that gets the deal is usually the one that got there first and then spent the most time...
...Thomas Unterberg: Staying on the Run. On a typical weekday Unterberg rises at 6 a.m. and dons a sweatsuit. From his Park Avenue apartment, he runs 28 blocks to a health club for a 45-minute workout and then runs back...
Once he reaches his Wall Street office by cab at 8:30 a.m., Unterberg, 53, keeps on hustling. As chairman of the investment-banking firm of L.F. Rothschild, Unterberg, Towbin, he has a talent for finding young companies ready to go public and selling their stock. He spends nearly half his time on the road, particularly in California, scouting for prospects. In 1983 Rothschild underwrote new issues worth $1.4 billion. The biggest: a $123 million stock offering in Diasonics, a Milpitas, Calif., firm that makes advanced medical diagnostic devices. On that deal, Rothschild earned a fee of $1.7 million...
...Unterberg likes to sign up a company well before it goes public in the hope that he can continue to underwrite subsequent stock offerings as it gets bigger. When Cray Research, a Minneapolis-based maker of scientific computers, went public in 1976, Rothschild earned a fee of $150,000 on the $9.9 million issue. Cray has since sold an additional $63 million worth of stock through Rothschild-led syndicates and generated $500,000 in additional fees for Unterberg's firm...
...caveats, experts who have seen Harvey's program think it may prove to be one of those rare pieces of software that open up the computer market to a new class of consumer. "It's both educational and entertaining," says Michele Preston, an analyst at L.E Rothschild, Unterberg, Towbin in New York City. In fact, the program seems to be as versatile and competent as its creator. Harvey, a blond-haired Eagle Scout, not only tinkers with computers but holds down a 4.0 average at Uplands High School, played halfback on city football teams, twice took first-place...