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Article: VIEW FROM NEW YORK: Wall Street cashes in on merger mania
- Article from:
- The Independent (London, England)
- Article date:
- October 2, 1995
- Author:
CopyrightCopyright 1995 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Bear Stearns's chairman, Allen Greenberg, last week gave a
little reminder of the misery that was Wall Street just a few
months ago. In the financial year that ended 30 June, the firm
suffered a 38 per cent fall in its net income, and whereas Mr
Greenberg's bonus a year before was a handsome $10.9m (pounds
6.8m), this time it slumped to $5.6m. Still a lot of money, but a
big cut none the less.
So the shadow of 1994, when virtually everyone was laying off
workers by the thousands and bond trading suffered its worst spell
in 70 years, still lingers a little. But almost every other item of
news coming from the Street these days tells us that the sunlight
has started to return. Even Salomon, ...