Word: weill
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...sixth largest U.S. broker. Said James D. Robinson III, 45, chairman of American Express, after the agreement was reached: "We used to say, 'Don't leave home without us.' Now we've added, 'Don't be home without us.' " Sanford I. Weill, 48, the Brooklyn-born chairman of Shearson, said that the combination would amount to nothing less than "the greatest financial services company in the world...
Last week's merger was only the latest in a long line of financial couplings for the wily Weill, who started on Wall Street as a messenger in 1956. He opened his own firm with three partners in 1960 and then began taking over older, but weaker, investment houses. In 1979 he acquired Loeb Rhoades, Hornblower & Co. in what was then Wall Street's largest merger...
While on a business trip in the Far East last month, Weill read in the South China Morning Post about the Prudential-Bache deal and decided that the time had come for another partner. Investment Banker Salim B. ("Sandy") Lewis, managing partner of S.B. Lewis & Co., last summer had suggested to Weill a merger with American Express, but the Shearson chairman doubted that he could persuade his board of directors to accept any such agreement. Then Prudential showed the way. After returning from Asia, Weill called Robinson and opened serious discussions. Over Easter weekend, the two men conducted a traveling...
Once last week's merger receives the expected approval from Washington and goes into effect, American Express is likely to begin selling new money services quickly. Said Weill: "You can let your imagination run about what we're going to be doing." The amalgam's first offering is likely to be a cash management account based on Shearson's money-market funds and similar to one created by Merrill Lynch in 1977. Under that program, customers with at least $20,000 in securities or cash in an account can put that cash into money-market funds...
...uncomfortable merely to be sitting in the theater. Hastily substituted for two Samuel Beckett pieces at a late date, The Berlin Requiem is a series of seven songs devoid of light, hope, and in the end life itself. It is a work of music, really, not theater at all. Weill's orchestration turns the woodwind section into a mock organ, coldly pealing in the face of death...