September 12, 1990
In the Aug. 29 Metro section you reported: 1) "Council OKs Hike in Tax on Businesses" 2) "LAX Parking Fees to Increase Again" When will this taxation stop? Recently, every time I pick up a publication, higher taxes are being reported. Will 1990 be known as the year of "gouge the taxpayers to death"? I will vote against every incumbent currently in office. I will encourage family, friends and co-workers to do the same.
February 6, 1990 |
Salomon Inc. today reported fourth-quarter profits of $68 million but disappointed investors with slim earnings in its securities business, which has been hit by a slow stock market and heated competition on Wall Street. The investment bank group said it earned 42 cents a share in the fourth period, compared with a year-ago loss of $38 million, or 42 cents a share, which reflected a special charge of about $180 million.
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.
February 20, 1989 |
Salomon Inc. Chairman John Gutfreund says the big Wall Street investment bank is well on the road to recovery from its recent troubles, and denies Wall Street rumors that it is contemplating a leveraged buyout. In a turbulent recent history, the firm's earnings have declined steeply since their peak in 1986 and it has seen the departure of a number of key executives, the layoff of about 1,000 employees and an unwanted investment by corporate raider Ronald O. Perelman.
December 8, 1988 |
Donald P. Kelly, former chairman of Beatrice Co. and a near-legendary deal maker, has formed a new limited partnership designed to acquire businesses that can be bought for as much as $1 billion. The investment firm Salomon Inc. will be a permanent partner to D. P. Kelly & Associates, arranging financing and finding investors for Kelly's new pursuits, Kelly said Tuesday. "We provide the managerial skills," Kelly said. "We don't have to worry about where we're going to get the equity.
November 30, 1988 |
The history-making bidding contest for RJR Nabisco drew three new formal bids Tuesday, amid predictions that company directors may decide the fate of the tobacco and food giant as early as today. Second-round bids were filed in late afternoon by the three major bidders: a group consisting of RJR's management, Shearson Lehman Hutton and Salomon Inc.; the Kohlberg Kravis Roberts buyout firm, and a group led by the First Boston investment firm.
October 29, 1988 |
Kohlberg Kravis Roberts & Co. charged Friday that managers of RJR Nabisco Inc. may be trying to sell off "substantial" pieces of the food and tobacco giant, a move that would make it less attractive in the face of the investment firm's $20.3-billion tender offer.