Word: walls
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Dates: during 1990-1999
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...surprising that many of the new deals have an American feel: Europe's latest merger boom is being shaped by armies of pinstriped investment bankers jetting in from Wall Street. In fact, two banks based in New York City, Morgan Stanley and Goldman Sachs, overtook their European rivals for the first time in 1998 and became the top two advisers for takeovers in Europe in terms of the value of deals they helped bring about, according to Securities Data/Thomson Financial. "I believe there's going to be a lot more hostile activity," predicts Wilder Fulford, a managing director for mergers...
...result is an industry in flux. Although condolences are hardly in order--last year the industry sold $7.5 billion in cards--sales are flattening and earnings are lackluster despite a robust economy. The industry enjoyed double-digit growth from the late '70s through the '80s. Wall Street, about as sentimental as a dollar bill, issued its own greeting to the industry recently: "Get lost soon." In a single day's trading in February, American Greetings, the nation's largest publicly owned greeting-card company, with $2 billion in annual revenues, lost $800 million in market value, tumbling...
...associations might be worth the bottom-line bump. Craig Gould, vice president of National Securities, a firm that says it is likely to be in on the deal, believes the company can be floated, pointing out that BearStearns found a way to take Playboy public: "History has shown that Wall Street has raised money for adult companies," he says. Fidelity and Warburg Pincus hold blocks of Playboy stock, while BearStearns and T. Rowe Price own positions in Spice Entertainment, another adult-media company...
...think Wall Street hasn't struggled with the value problem. Four years after Netscape rang the bell for Net mania with an initial public offering at $28 a share that soared to $58 in a day, underwriters remain skeptical and resist pricing Internet IPOs anywhere near where the market does. Last week Rhythms Netconnections was listed at $21 and closed the day at $69. Two weeks ago, Priceline.com started at $16 and shot to $69. If anything, the pricing of Net stocks is growing more off kilter. The average first-day gain for an Internet IPO has swelled from...
...would be understandable. Englander, once Orthodox himself, tells tales out of shul that include the title story, in which a rabbi grants an unhappy husband permission to visit a prostitute. Yet Englander's apostasy is always affectionate and imaginative. The Gilgul of Park Avenue, for example, offers up a Wall Street Wasp who inexplicably discovers that he has a Jewish soul. The domestic and professional ramifications read like a collaboration between Cynthia Ozick and Mel Brooks...