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Publishers Weekly, 1987-02-06 New Yorker writer Auletta here relates the vicious behind-the-scenes struggle between two top officers of the former investment banking firm of Lehman Brothers Kuhn Loeb, which was thereafter swallowed up by Shearson/American Express. PW called this a ``modern morality tale.'' (March) (c) Copyright PWxyz, LLC. All rights reserved
Publishers Weekly, 1985-12-20 Based on probing research, this modern morality tale is an expansion of a 1984 New York Times Magazine article on the ruinous behind-the-scenes struggle between two top officers of the 134-year-old private investment banking firm Lehman Brothers Kuhn Loeb. Auletta (The Art of Corporate Success, etc.) recounts in detail the takeover of the traditional and specialized but dissent-ridden and undercapitalized Wall Street company by an outside trader, the recently formed global giant Shearson/American Express. The new conglomerates that emerge from such moves, Auletta maintains, emphasize transactual, service business rather than advisory functions, and short-term gains at the expense of long-range growth plans. Wall Street, he claims, is well on its way to being dominated by a few superpowers that combine all financial services under one roof. Photos not seen by PW. Major ad/promo; Fortune Book Club selection; BOMC alternate; author tour. January (c) Copyright PWxyz, LLC. All rights reserved
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