Word: salomone
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...right to invade the computer market. Last week the still giant firm (assets: $34 billion) launched its first major attack. AT&T rolled out six machines ranging from a $9,950 desktop model to a high-powered $340,000 one. Said Stephen McClellan, a data-processing industry analyst for Salomon Bros.: "A T & T's entry into computers is probably the most significant event in the industry since IBM launched its Personal Computer...
...conservative economists are urging the Federal Reserve to keep down the money supply with higher interest rates to prevent more inflation. They fear that signs like last week's $4 billion jump in the basic money supply point toward sharp price increases later in the year. In deed, Salomon Bros. Economist Henry Kaufman expects the discount rate, the price the Federal Reserve charges mem ber banks for loans, to rise a full percent age point in the next two months. Others contend that since the money supply has been growing within its announced target range...
...moneymen who worked on the merger have been major winners too. Salomon Bros, and Merrill Lynch, Gulfs advisers, will split $46 million in fees. Morgan Stanley, Socal's investment banker, has received $1 million so far, and will be paid $15.5 million more when more than half the Gulf shares are acquired. And Bank of America, which arranged a $14 billion credit line to finance the buyout, will collect $500,000 for that service...
Merrill Lynch offered the first couponless notes under the name Treasury Investment Growth Receipts (TIGRs) in August 1982. The copycats quickly followed. The same week Lehman Bros, marketed Lehman Investment Opportunity Notes (LIONS), and the next month Salomon Bros, offered its Certificate of Accrual on Treasury Securities (CATS...
Despite starting a whisker late, Salomon caught up fast. Of the $30 billion worth of zeros that have so far been sold, the big investment banker has moved about $12 billion. Merrill Lynch accounts for sales of $11 billion more of the securities, while such big brokerages...