To understand what went wrong at Lehman Brothers, leave the canyons of Wall Street and head to the flatlands of Bakersfield, 120 miles northeast of Los Angeles.
We'd all love to find an Uncle Sugar to fork over the dough we need to pay the income taxes we owe Uncle Sam. For most of us, alas, finding such a sugar daddy (or mommy) is only a pleasant fantasy. But Steve Schwarzman and Pete Peterson, the zillionaire co-founders of the Blackstone leveraged-buyout house, have realized that dream.
John Chiota was ready to try just about anything. After a 2001 car accident, Chiota, a 63-year-old Connecticut lawyer and probate judge, had lower back pain so bad that he often had to hear cases w...
Wall Street is a most unforgiving place to do business. Blood in the water will attract sharks, competitors will quickly build up trades against a debilitated foe, and a panic can accelerate a down...
Lehman Brothers, a 156-year-old firm that has had numerous brushes with death is now enjoying its greatest run ever. Richard S. Fuld Jr., 59, took over the notoriously fractious Lehman Brothers 13 years ago, when it was a forgotten subsidiary within the rat's nest that was Shearson/American Express. Driven partly by those who dismissed him and his firm as second- or even third-rate, Fuld transformed Lehman from Wall Street weakling to global powerhouse.
Business 2.0: The Next Four Yearsupdated: Fri Oct 01 2004 00:01:00
On a postcard summer afternoon before the GOP rolled into New York for its national convention, Pete Peterson was in his Park Avenue office, wearing a pin-striped suit and a perfect Hamptons tan, a...
If you are confused about the direction of our economy and our markets, about whether tax cuts will help create jobs and whether deficits are a solution or a problem, you are in very good company.
Money Magazine: Do deficits matter?updated: Fri Jul 18 2003 11:07:00
If you are confused about the direction of our economy and our markets, about whether tax cuts will help create jobs and whether deficits are a solution or a problem, you are in very good company.
For a decade, dumb money ruled on Wall Street. In the 1990s telegenic analysts promised investors that Internet stocks would quadruple--which they did--and were paid millions for their prescience. ...
Pete Peterson isn't a household name. But his stellar track record might change that. The Prudential Volpe wireless equipment analyst rated Nokia a buy in July 1997, back when few had even heard of...
Many economists favor privatizing Social Security and investing contributions in the financial markets. FORTUNE looked at the advantages of the idea (September 30). Here, Peter G. Peterson, chairma...
Fortune: THE INSIDERupdated: Mon Feb 07 1994 00:01:00
Our favorite words in $7-billion-man Bill Gates' marriage vow? ''For richer or for poorer.'' . . .More taxes! California's moving toward ''pay-at-the-pump'' auto insurance; drivers would pay a 25-c...
58 MANAGING/ Cover Stories THE SEVEN KEYS TO BUSINESS LEADERSHIP The presidential campaign raises the question anew: How can corporate chiefs go beyond managing and learn to inspire? Here are some ...
Pete Peterson, 61, likes to play the early bird. As portfolio manager of the $125 million Cardinal Fund of Columbus, Ohio, Peterson pecks around in his own backyard for small, steady-growing, under...
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