Word: weill
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...damages, including $7 billion in 1989 after Hurricane Hugo and the San Francisco earthquake. So far this year, insured losses have totaled a record $13 billion. The toll from Hurricane Andrew alone has already exceeded $9 billion. So who would want to buy into an insurance company? Try Sanford Weill, chairman of Primerica, the New York City concern best known for its Smith Barney brokerage subsidiary. Weill agreed to invest $550 million for a 27% stake in Travelers...
...quarter earnings for damages related to Hurricane Andrew, has been struggling under the weight of a huge portfolio of troubled real estate loans. The 129-year-old company, which last week announced 3,500 layoffs, 10% of its work force, has been desperately searching for a major cash infusion. Weill, who earned a reputation for shrewdness after creating what is now Shearson Lehman Brothers and selling it to American Express in 1981, appears to be bottom fishing. Primerica's stake -- at $19 a share -- is valued at about half Travelers' book value. Weill, who is also known as a cost...
...here: a homicidal maniac stalking the menacing night streets of a nameless, timeless city; a circus and a brothel populated by fringe figures who, naturally, are less hypocritical socially and sexually than the police, the church and the bourgeoisie; a score that features the music of Kurt Weill; lighting and a camera that pay homage to the whole Weimar school of cinematography...
American Express has tried for months to sell part of its 60% stake in the firm. The financial giant even talked with Sanford Weill, the former head of Shearson who sold the brokerage to American Express in 1981. Finally, with no buyers in sight, Chief Executive James Robinson announced last week that American Express would purchase the rest of Shearson from shareholders in a stock-swap deal valued at $350 million. The parent company plans to cut its losses by rapidly shrinking its subsidiary. Last week it began laying off 2,000 of Shearson's 35,500 employees...
...kind is not, of course, Bolcom's invention. Louis Moreau Gottschalk, the Civil War-era virtuoso, wrote symphonies as well as show pieces. Charles Ives, whom Bolcom greatly admires, embedded folk songs in his massive orchestral works. Gershwin composed both opera and musical comedies, and in later years Kurt Weill, Virgil Thomson and Leonard Bernstein, among others, have distinguished themselves as musical magpies. Some think, in fact, that eclecticism is what is now fashionable in this unideological age, and that is partly what accounts for Bolcom's recent success...