Word: salomone
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...Salomon-Phibro merger...
Even in the Year of the Merger, last week's announcement shocked the close-knit world of Wall Street. Salomon Bros., the world's largest trader in government securities and corporate bonds, was combining with Phibro, the world's largest commodity trader. The $550 million marriage will create a new international financial juggernaut. Said George Ball, president of E.F. Hutton: "There had been inklings of some internal dissatisfaction and potential losses for Salomon Bros., but nothing that had been a harbinger of a move to sell out to another firm...
...analysts fear that the President's tax cut plans, plus his projected defense spending buildup, will more than offset the Administration's deep spending cuts elsewhere in the budget, and thus increase the need for federal borrowing. Interest-rate pessimists like investment bank Economists Henry Kaufman of Salomon Bros, and Albert Wojnilower of First Boston Corp., who have been nicknamed Dr. Doom and Dr. Gloom along Wall Street, assert that the prime rate could ratchet up at least above its peak of 21.5% and possibly as high as 25% before the end of the year...
Robert S. Salomon Jr., stock-research chief for Wall Street's Salomon Bros., who keeps tabs on the market value of collectibles and other commodities, reports that for the first time in five years, diamonds and Oriental carpets failed to increase in value during the twelve months ending June 1. At the same time, U.S. coins actually lost 8% of their value. One of the best investments during that period was prosaic common stocks, which increased in value by 25.3%. That was faster than rare books and U.S. stamps (both rose by 18%) or paintings by old masters...
...still strong and were likely to intensify as a result of Reagan's combination of large tax cuts and hefty boosts in defense spending. The most prominent of these skeptics are a pair of bad news bears: Henry Kaufman, 53, chief economist for the investment banking house of Salomon Bros., and Albert M. Wojnilower (pronounced Wodge-nee-lauer), 51, who holds the same post at the rival First Boston. They are two of the most respected oracles in the financial community; their ability to analyze and forecast money market trends with unusual accuracy has attracted legions of loyal followers...