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Investment Counselors

BUSINESS
August 23, 1989 | From The Washington Post
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.
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BUSINESS
December 3, 1989 | CARLA LAZZARESCHI
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.
BUSINESS
March 23, 1989 | BILL SING, Times Staff Writer
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.
BUSINESS
November 15, 1989 | SCOT J. PALTROW, TIMES STAFF WRITER
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.
BUSINESS
November 23, 1989 | PAUL RICHTER, TIMES STAFF WRITER
The chairman of Wall Street's leading trade group peered into his industry's future three weeks ago, and it didn't look half bad. The investment world seemed to have survived the stock market's Oct. 13 mini-crash, many corporate takeovers were continuing, and Wall Street firms had been "prudent" in trimming their work forces, said Hardwick Simmons, who retires this month as chairman of the Securities Industry Assn. "I don't think I see another retrenchment ahead."
BUSINESS
October 20, 1989 | JAMES S. GRANELLI, TIMES STAFF WRITER
Mercury Savings & Loan has hired Merrill Lynch Capital Markets as its lead investment banker to find ways to improve the Huntington Beach thrift's capital, including a possible sale of the institution. Mercury Chairman Leonard Shane said the thrift will need more capital to meet higher levels that federal regulators soon will require under the new law intended to bail out the industry's deposit insurance system. "I look at (hiring Merrill Lynch) as a positive step," he said.
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