Merrill cites $1.4 billion exposure to Long-Term

Article Abstract:

The sudden decline in Greenwich, Conn.-based Long-Term Capital Management's fortunes has hit home at Merrill Lynch and Company, which reported exposure of $1.4 billion to the troubled speculative hedge fund. Industry analysts have said that Merrill Lynch, which had served as Long-Term's major banker, would have suffered severe losses if the hedge fund had been permitted to collapse. Long-Term was rescued from bankruptcy with a $3.6 billion bailout by a consortium of fourteen financial firms, which included Merrill Lynch.

Comment:

Has reported exposure of $1.4 bil to Long-Term Capital Management, the troubled speculative hedge fund

Company Planning/Goals, Use of Funds, Merrill Lynch & Company Inc., Article

---

After 31 years at Goldman, vice chairman plans to retire

Article Abstract:

The longest serving partner at Goldman, Sachs & Co., Roy J. Zuckerberg, vice chairman, will retire to 19 acres and a new home in the East Hamptons. After being with the company for 31 years, his retirement next month comes shortly after the company withdrew its public offering recently. Had that occurred, Mr. Zuckerberg could have left with about $200 million in shares. He will continue as chairman of Goldman's private bank in Zurich.

Executive changes & profiles, Security brokers and dealers, Officials and employees, Abstract, Goldman Sachs and Co.

---

Similar abstracts:

• Abstracts: Goldman keeps it private even in going public. Goldman, with new card, plans a summer dance
• Abstracts: Goodrich, adding to aerospace muscle, to buy Coltec for $1.49 billion in stock
• Abstracts: Internet brokerage firms break into banking. Fleet Financial to acquire BankBoston; stock swap of $16 billion would create leader in New England region
• Abstracts: Guffaws aside, new scooter makers zip ahead. Sixty goofy-looking little figures spark a toy craze. Lego's robot set for kids grabs crowds of grown-ups
• Abstracts: Boston Herald sets big makeover in bid to lure readers and ads. What nerve! Rival challenges Martha Stewart

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.