Word: manhattanization
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When police and emergency crews arrived on the scene, the victim was lying on the sidewalk in front of the Manhattan Clothing and Shoe store at 563 Mass...
Milken's cadre of supporters, however, think he has suffered enough. Melvin Brosterman, a Manhattan securities lawyer, contends that nothing will be gained by sending Milken to jail. "Prison would be superfluous. For the last four years ((of the federal probe)), Michael Milken has been serving a sentence, being hounded and living under a cloud. I'd give him credit for time served." Milken's attorney, Arthur Liman, is expected to plead for leniency on the ground that his client made an "enormous" contribution to the U.S. economy by using junk bonds to help finance hundreds of companies and create...
...bidding war that began last September when B.A.T. Industries of London decided to sell Saks Fifth Avenue, one of the most prestigious U.S. retailing chains. At least four potential buyers vied for the richly profitable company (estimated 1989 earnings: $111 million), which has 45 stores in such locales as Manhattan, Beverly Hills, and Palm Beach, Fla. When the winning bid of $1.5 billion was disclosed last week, the victor was Investcorp, a reclusive firm based in Bahrain that is becoming a powerful force in retailing...
Saks' renown stands in sharp contrast to the relative obscurity of its new owner. Investcorp was started in 1982 by Nemir Kirdar, a U.S.-educated Iraqi who had worked for Chase Manhattan Bank, and Abdul-Rahman Salim Al-Ateeqi, a former Kuwaiti Finance Minister. The company's 12,000 shareholders, none of whom own more than a 0.5% stake, constitute a Who's Who of Middle Eastern tycoons and royalty. The firm's philosophy is to make large, friendly investments, which, so far, have been concentrated in the U.S. and Europe...
...have held leadership positions in organizations ranging from B'nai B'rith to Hadassah. Though dissenting views are far from universal, "there is great sadness toward Israel shared by growing numbers of American Jews," observes John Ruskay, vice chancellor of public affairs of the Jewish Theological Seminary in Manhattan. "The sadness is that after 40 years and a Holocaust we end up occupying thousands of Palestinians against their will...