Word: walls
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Dates: during 1970-1979
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...initial aggressor or by another bidder. Even Lipton, who with his pale, bland face and dark shapeless suits looks like an ambitious bank clerk, admits: "Cash offers are rarely defeated." Two years ago, he fended off Congoleum Corp.'s cash offer for Universal Leaf Tobacco. Says a Wall Street merger and acquisition specialist: "Marty tied Congoleum up for over eight months in the courts, and it got mauled so badly that it finally went away." The legal strategist representing Congoleum was Joe Flom...
Their firms, long considered upstart midtown outfits, were located in anonymous high-rise office buildings a $6 cab ride from the tonier downtown Wall Street firms. These firms disdained takeover work because of its past association with hungry and raffish conglomerateurs...
...past several years, however, Wall Street firms have begun to do takeover work. Davis Polk & Wardwell, for example, defended Carrier Corp. but lost out to Lipton, who represented the raider, United Technologies. Flom was not involved because he was on retainer both to United and Carrier. Indeed, Lipton and Flom are so prominent that a partner in an old-line Wall Street investment banking house says admiringly: "No one else can even shine the shoes...
...semiretired, drew upon impressions he jotted down during the trial: how the witnesses and defendants looked and acted, whether he felt they were telling the truth or "exaggerating." The actual work took place at his Washington home, in a study with an exercise bicycle and a solid "Watergate wall" of cartoons, photographs and awards he has received. Besides his views of his most famous case, Sirica's book will offer insights into the life and times of the tough judge once known as Maximum John. Says he: "I was a dropout from law school twice, so I tell youngsters...
Parachute journalism happens because too many editors assume Americans aren't much interested in world news and have cut back coverage. In retrospect, notes Robert Bartley, editor of the Wall Street Journal, the press now knows that Iran "was more important than the space or staffing given it." Last week 120 correspondents-30 of them American-clustered in Tehran's Hotel Inter-Continental...