November 11, 1993 |
Imagine a restaurant chain spending big money to warn you of the health hazards posed by the high-fat dishes it serves. Or a car manufacturer publishing information in grisly detail on the dangers of a highway crash. Or a bank going out of its way to alert you to the debt perils posed by its credit cards. Unlikely as such visions may be, something very much like that is taking place these days in the booming mutual-fund business.
August 23, 1989 |
The investment firm Drexel Burnham Lambert Inc. warned its employees this week to avoid business contact with Michael Milken, the financier who turned Drexel into one of the most profitable firms on Wall Street. As part of its settlement of sweeping fraud charges with the Securities and Exchange Commission earlier this year, Drexel agreed to dismiss Michael Milken and his brother, Lowell, and to sever business relationships with them.
December 3, 1989 |
A stockbroker can help you put together an investment portfolio and even advise you on the range of securities and other opportunities available to you. But a broker is not necessarily a financial planner, who can evaluate your personal circumstances and objectives and draft a detailed investment strategy. Choosing a good financial planner who understands your goals and investing temperment can be difficult, but not impossible.
March 23, 1989 |
Signaling that recently rising interest rates may be hurting the bond trading activities of several Wall Street firms, Salomon Inc. said Wednesday that it expects to report a "modest" loss in the current first quarter. The once-venerable firm--which has been trying to reduce its dependence on trading--blamed the expected poor results on adverse trading conditions over the past few weeks in its Salomon Bros. government bond operations and its Philipp Bros. commodity operations.
November 15, 1989 |
Drexel Burnham Lambert Inc. said Tuesday that it dismissed about 50 staff members, including close to 40 in its high-yield junk bond headquarters in Beverly Hills, as part of overall staff cuts that began more than a week ago. The move eliminates about 10% of the Beverly Hills junk bond staff, which last week totaled close to 325.