Word: lehman
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...just three months after the service suspended the supplier of nuclear submarines on charges of improperly billing taxpayers $158 million for overhead costs ranging from the kenneling of an executive's dog to the purchase of a company director's kingsize bed. In announcing the sanctions, Navy Secretary John Lehman accused the third largest defense contractor of disregarding the public's trust...
Wall Street wonders, though, how Burr will mesh a traditional, highly unionized airline with People's unorthodox structure and style. Says Robert Joedicke, an airline expert for Shearson Lehman Bros.: "Running a company with labor unions on one side of the house and no unions on the other side is going to be tricky. Under those circumstances, collective bargaining can be contagious." In the merger agreement, Burr pledged to operate Frontier as a separate company until 1990. Says he: "Over the next five years, we'll try to convince the Frontier people of our way of doing things...
...cars than any other foreign joint venture in the first quarter, according to Singapore's AutoAsia, an automotive data company. In fact, with a compounded annual revenue growth of 20% over the past five years, Hyundai has been the world's fastest-growing major automaker since 1999, according to Lehman Bros. Hyundai is "putting pressure on everybody," says Rob Hinchliffe, an auto analyst at UBS. Even Toyota vice chairman Fujio Cho last year acknowledged the blur that is getting bigger in his rearview mirror: "Hyundai has quality and prices that have caught customers' attention, not to mention ours...
...less than a comparable Toyota or Honda in the U.S., but with rising labor costs and a weaker dollar, Hyundai must persuade customers to pay more so that profits keep growing. Last year Hyundai's earnings edged up a mere 2% while sales grew 10%. Lehman Bros. auto analyst Zayong Koo says, "They need to show a track record of good-quality cars in order for them to take that next step and raise pricing...
...Staff writer Jonathan Lehman can be reached at jlehman@fas.harvard.edu...