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Topic: Drexel Burnham Lambert

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	Burnham Financial Group: Biographies
		Burnham is Chairman and Chief Executive Officer of Burnham Asset Management Corporation and Burnham Securities Inc. He is Chairman and CEO of Burnham Investors Trust, and Portfolio Manager of the Burnham Fund, a series of the Trust.
		Burnham was Senior Vice President and Assistant to Frank Zarb, then Chairman and Chief Executive Officer of Smith Barney, Harris Upham & Co., Inc., and Senior Executive Vice President in charge of National Retail Sales of Drexel Burnham Lambert Incorporated.
		Burnham is a graduate of the Choate School in Wallingford, Connecticut.
	www.burnhamfinancial.com /bio.asp (5043 words)

	Encyclopedia: Drexel Burnham Lambert (Site not responding. Last check: )
		Drexel Burnham Lambert was one of the most profitable Wall Street investment banking firms during the late 1970s and most of the 1980s.
		Drexel, however, was more aggressive in their business practices than most and organizationally the firm experimented with the traditional management model.
		Drexel was forced to buy the bonds of insolvent and failing companies, which depleted their capital and eventually bankrupt the company.
	www.nationmaster.com /encyclopedia/Drexel-Burnham-Lambert (1023 words)

	Welcome to our online resource center!!!! (Site not responding. Last check: )
		While the fiery collapse of Drexel attracted so much attention, most people are unaware of how its predecessor, a tiny, relatively inconsequential brokerage begun in 1935, was able to become the nation's fifth largest investment bank.
		Burnham, known by his childhood nickname of Tubby, borrowed money to start his business in the depths of the Depression.
		Burnham noted that by today's dot.com tycoon standards he would be considered a failure - his net worth barely reached $1 million after more than 25 years on Wall Street.
	www.ivenue.com /resource_center/start_bus/print/st_finding_fund18_print.htm (443 words)

	In re DREXEL BURNHAM LAMBERT GROUP INC., et al., Debtors.
		Bachelor, Debtor's employee and a participant in a meeting prior to Investors' filing with Clayton and Deutschman, DCC's principals, declares "[t]he entire thrust of the meeting, as well as Investors' overall negotiations with DCC, was to achieve a settlement and termination of Investors' relationship with DCC and Investors' liability under the Funding Agreement." Bachelor Aff.
		Bachelor stressed that since Drexel (Drexel Burnham Lambert Group, Inc. had already filed for bankruptcy) was planning to emerge from bankruptcy as a scaled down investment banking firm, DCC could be a material player in Drexel's reorganization and a vehicle through which the reorganized entity would invest.
		Bachelor made it clear that Drexel was considering continuing to do business with DCC in bankruptcy and urged us to consider how this could be effectuated.
	www.vtb.uscourts.gov /opinions/published/134br482.html (5569 words)

	Rec Fresh : Article 'Drexel Burnham Lambert' (Site not responding. Last check: )
		Drexel Burnham Lambert was one of the most successful Wall Street firms in the 1980s.
		Drexel's legacy of sponsorship for new and troubled companies remains an industry model today.
		The Fall of Drexel Burnham Lambert and the Israeli Connection.
	www.rec-fresh.net /DisplayArticleFull1308106.html (361 words)

	Judge's Decisions
		The debtor prays for such a declaration and a judgment voiding Drexel's lien pursuant to section 506(d) and preserving the avoided lien for the benefit of the estate pursuant to section 551.
		Drexel has moved the court for dismissal on grounds that the complaint fails to state a cause of action and fails to name the senior lienholder as a party.
		The court finds Collier's views to be consistent with its own general understanding of the Bankruptcy Code, and therefore agrees with Drexel that this adversary proceeding cannot be used to fix the amount of its secured claim for all purposes, and particularly cannot be used to establish the value for purposes of a plan.
	www.canb.uscourts.gov /canb/Documents.nsf/0/167f6492cef6b8008825688f0079367f?OpenDocument (721 words)

	Michael R. Milken -- Britannica Concise Encyclopedia - The online encyclopedia you can trust! (Site not responding. Last check: )
		By 1984 Drexel Burnham was able to raise large amounts of capital by floating new issues of junk bonds, which Milken used to provide financing for a new class of entrepreneurs and “corporate raiders” to expand their businesses or acquire other companies.
		In 1986, however, one of Drexel's clients, Ivan Boesky, was convicted of insider trading, and he implicated Milken and Drexel Burnham Lambert in his illegal financial dealings.
		Drexel reached a settlement with the government later that year, agreeing to pay $650 million in fines, and Milken left the firm in 1989.
	www.britannica.com /ebc/article-9002758 (1137 words)

	November 1999 - Computers in the 21st Century
		By 1984 Drexel Burnham was able to raise large amounts of capital by floating new issues of junk bonds, which Milken used to finance "corporate raiders" to be able to buy up companies.
		In 1986 one of Drexel’s clients, Ivan Boesky, was convicted of insider trading and in order to get a lighter prison term he implicated Milken and Drexel Burnham Lambert in his illegal financial dealings.
		Drexel Burnham Lambert Inc. made a deal with the U.S. Government in 1989, and reached a settlement, agreeing to pay 650 million dollars in fines and getting Milken leave the company.
	www.eaec.org /newsletters/1999/NL1999nov.htm (3657 words)

	New York Times - Allan Sher article
		Drexel Burnham Lambert Inc. said yesterday that Allan Sher, who oversees the investment firm's West Coast operations had been promoted to vice chairman.
		Sher, a director and member of the executive committee at Drexel, will be one of three corporate vice chairmen.
		Sher, who joined Drexel Burnham in 1983, began his career in the securities industry in 1956 with Merrill Lynch, Pierce, Fenner and Smith.
	www.lawsonline.com /directories/ew/securities/Sher/ny.htm (344 words)

	Time : Big Brother is listening. (Drexel Burnham Lambert agrees to federal supervision as part of insider trading and ... (Site not responding. Last check: )
		When anyone at Drexel Burnham Lambert talks, the Government may soon be listening.
		Drexel's pact with the SEC, which must be approved by a federal judge, will allow the firm to close the book on a 2 1/2-year federal probe.
		(Drexel Burnham Lambert agrees to federal supervision as part of insider trading and stock fraud settlement)' with a FREE Trial for instant access »
	static.highbeam.com /t/time/april241989/bigbrotherislisteningdrexelburnhamlambertagreestof (276 words)

	[No title] (Site not responding. Last check: )
		De Remer about whether 16 or not Drexel might not be interested in looking 17 at what we were working on and might they be 18 interested in a transaction along the lines of 19 what was suggested here.
		And sometime between this time and 9 the time that we did it, I know we discussed with 10 Drexel the form of an option as being something 11 that we wanted to do and would they be interested.
		Bilger was a banker in the 6 corporate finance department of Drexel Burnham at 7 the time.
	www.jailhurwitz.com /testimonies/9-26-97.TXT (15038 words)

	Economists - Federal Reserve Bank of Chicago (Site not responding. Last check: )
		At the time Drexel exited the market by declaring bankruptcy, it was the dominant market maker and underwriter of junk bonds.
		We examine the impact of Drexelâs failure on direct and indirect holders of junk bonds by investigating the effect of Drexelâs collapse on junk bond returns, and on the stock returns of a group of firms that, on average, held significant amounts of junk bonds.
		This suggests that the monitoring services provided by Drexel for the bonds it underwrote would not be replaced easily by other financial intermediaries operating in the junk bond market.
	www.chicagofed.org /economic_research_and_data/wp_abstract.cfm?pubsID=400 (295 words)

	Rudy Giuliani's Investment Banking Move By Rich Duprey Dec 02, 2004 - Goldman Sachs Group Inc., Merrill Lynch and ... (Site not responding. Last check: )
		That's why Drexel ended up paying a fine of $650 million and pleading guilty to six felony counts -- a simple RICO indictment would have allowed Giuliani to seize all of the firm's assets.
		Michael Milken was the Drexel financier who raised the bar on using junk bonds to finance mergers and acquisitions.
		So successful was he that Drexel went from earning $1.2 million in fees on such deals to more than $4 billion in 1986.
	articles.fool.com /coms2/summary_0268-webdata20041202X9_ITM (638 words)

	Daily News Record : Hear Puritan, Klein seek debt refinancing. @ HighBeam Research (Site not responding. Last check: )
		Drexel officials could not be reached for comment.
		Drexel Burnham Lambert specializes in providing financing through the sale of so-called "junk bonds," debt securities with high yields and high risks.
		With the Calvin Klein name and a profitable business, financial sources note that an attractive deal could be structured by Drexel Burnham that would get the banks paid off and provide a profit opportunity for Drexel Burnham and its clients.
	static.highbeam.com /d/dailynewsrecord/may081985/hearpuritankleinseekdebtrefinancing (210 words)

	JS Online: Wall Street meets North Ave.
		Drexel Burnham Lambert, the firm where Stanton worked in the 1980s, was synonymous at the time with powerful junk bond dealers and leveraged buyouts.
		He was in town to work on a new investment fund, one that borrows a few tricks from his Drexel days, one that Milwaukee has not seen in the past.
		Stanton's associates explain that while Drexel junk bond king Michael Milken was getting rich in the 1980s - and before Milken was indicted on charges of securities fraud in 1989 - Stanton innovated a class of exotic investments that made money from Hollywood movies that had not yet been filmed.
	www.jsonline.com /news/metro/jul05/339972.asp?format=print (2223 words)

	Canyon Capital Realty Advisors (Site not responding. Last check: )
		Turner worked at Drexel Burnham Lambert where he was the derivatives product liaison between the commercial mortgage finance department and high yield institutional sales and trading.
		Evensen was a Senior Vice President of the High Yield Bond Department of Drexel Burnham Lambert and Director of the International Markets Group, responsible for the high-yield senior debt and international markets activities of Drexel.
		Julis was a Senior Vice President of Drexel Burnham Lambert, where he directed a group of professionals specializing in research, investing and trading in securities in this area.
	www.canyoncapital.com /capital/team.html (3064 words)

	Berger & Montague, P.C \| Prominent cases
		The firm was appointed co-counsel for a mandatory non-opt-out class consisting of all claimants who had filed billions of dollars in securities litigation-related proofs of claim against The Drexel Burnham Lambert Group, Inc. and/or its subsidiaries.
		Settlements in excess of $2.0 billion were approved in August 1991 and became effective upon consummation of Drexel's Plan of Reorganization on April 30, 1992.
		As court-appointed liaison counsel, the firm was one of four lead counsel who structured the $1.3 billion "global" settlement of all claims pending against Michael R. Milken, over 200 present and former officers and directors of Drexel Burnham Lambert, and more than 350 Drexel/Milken-related entities.
	bergermontague.com /prominent-cases.cfm (946 words)

	Mosaic Capital - Kevin Wescott Shultz
		This experience was garnered at major investment banking firms, including Drexel Burnham Lambert, where Kevin directed the West Coast corporate sale and divestiture effort during the late 1980’s, and at McKinsey and Company, where Kevin worked in firm’s acquisition advisory practice prior to attending business school.
		His expertise is bolstered by his numerous contacts in the world of private equity and debt, going back to his days at Drexel Burnham Lambert.
		Because he is able to quickly understand companies and their industries, Kevin has broad investment banking experience in a variety of industries including consumer products, education services, lodging, internet, media, retailing and technology.
	www.mosaiccapital.com /whoweare/shultz.asp (406 words)

	Zmetro.com: Drexel Burnham Lambert Alumni Article: Brewer's Mark Attanasio
		Several other former Drexel employees are managing billions for pension funds, endowments, wealthy people and one another - often using junk bonds.
		Mark L. Attanasio, a senior vice president at Drexel when it collapsed, is a managing partner at Trust Company of the West, a $109.7 billion money management firm.
		Interviews with more than two dozen former employees showed that, far from being embarrassed by their connection to Drexel, most retain an almost cultlike devotion to the firm and much of what it stood for.
	www.zmetro.com /archives/001473.php (249 words)

	Drexel Burnham Lambert
		Drexel Firestone (formerly Drexel Harriman Ripley) merged with Burnham in 1973, becoming Drexel Burnham.
		It later received a major investment in 1976 from Groupe Bruxelles Lambert, causing a name change.
		Drexel Burnham Lambert, implementing the ideas of Michael Milken, created a stunning market in junk bonds where once there was none.
	www.nndb.com /company/637/000125262 (61 words)

	The New York Times > Business > Your Money > The Drexel Diaspora (Site not responding. Last check: )
		The Drexel tie still binds at the Jefferies Group, where Brent Stevens, Chris Kanoff, and Andrew Whittaker are senior executives.
		Stevens had recently joined Drexel Burnham Lambert, the swashbuckling investment bank that dominated the market for financing risky companies.
		Perhaps the best known is former Drexel trader Gary Winnick, who founded Global Crossing, the onetime telecom giant that imploded under a mountain of debt in January 2002.
	www.nytimes.com /2005/02/06/business/yourmoney/06drex.html?ex=1265346000&en=013e5eb9fbe1b6ba&ei=5090&partner=rssuserland (967 words)

	Untitled (Site not responding. Last check: )
		The lack of providing ethnic training to their employees by Drexel Burnham Lambert doesn't make them immoral, it probably means the manager's were just ethnically lazy.
		There are several things Drexel Burnham Lambert could have done to create a popular climate for ethnical conduct.
		Another option that Drexel Burnham Lambert could have done was have a published statement of moral expectations for employee conduct.
	academic.emporia.edu /smithwil/99fmg342/wa2/matzke.htm (389 words)

	Welcome to LLM Capital Partners LLC \| Team
		He was previously a Managing Director of Drexel Burnham Lambert and had prior experience with Dillon, Read & Co. Inc.
		Lane was a Managing Director of Triumph Capital Group, Inc. and from 1990 to 1994, a Managing Director of Pacific Corporate Group.
		He was previously a Managing Director at Drexel Burnham Lambert.
	www.llmcapital.com /team (330 words)

	Vasant's Weblog: The Drexel Alumni
		Many of the alumni of Drexel Burnham Lambert today hold top positions across Wall Street.
		Many former Drexel employees speak glowingly of Mr.
		This is a paragraph of text that could go in the sidebar.
	vasantv.blogspot.com /2005/02/drexel-alumni.html (189 words)

	[Deathwatch] Milton Pollack, noted federal judge, 97
		Milton Pollack, 97, Noted Federal District Judge, Dies By DAMIEN CAVE Published: August 16, 2004 Milton Pollack handled the Drexel Burnham Lambert bankruptcy case.
		Milton Pollack, a noted federal judge who presided over some of the biggest financial-scandal cases of the 20th century, died Friday at New York Weill Cornell Center.
		During the late 1980's and early 1990's, Judge Pollack sorted through the Drexel Burnham Lambert bankruptcy case, pulling together hundreds of claims against the company and its executives, including Michael R. Milken.
	slick.org /pipermail/deathwatch/2004-August/000839.html (591 words)

	Michael R. Milken -- Britannica Concise Encyclopedia - Your gateway to all Britannica has to offer!
		He studied at the University of Pennsylvania's Wharton School and went to work in 1969 for what was to become Drexel Burnham Lambert Inc., an investment-banking company.
		He persuaded many of his clients to invest in junk bonds issued by new or financially troubled companies; the capital he raised financed a new class of “corporate raiders” who carried out numerous mergers, acquisitions, hostile takeovers, and leveraged buyouts in the 1980s.
		Milken pled guilty to securities fraud the same year and was sentenced to 10 years in prison and a $600-million fine; released after 22 months, he since made a second fortune.
	concise.britannica.com /ebc/article-9372145?tocId=9372145 (808 words)

	[No title] (Site not responding. Last check: )
		I think Levine's stongest instrumental and terminal values duing his insider trading days was competition and a need to be bigger and better then everybody else.
		Drexel Burnham Lambert should have made it very clear that any type of unethical conduct would not be allowed to be conducted in his business.
		Drexel Burnham Lambert should have kept a closer eye on those raise fast and making money (too much money).
	academic.emporia.edu /smithwil/s99mg342/two/greenfit.htm (308 words)

	TIGER 21 \| Presenters (Site not responding. Last check: )
		Talbot began as a healthcare industry generalist when he joined Drexel Burnham Lambert, Inc. in 1976.
		Talbot was also active in covering medical service stocks ranging from nursing homes to clinical labs, as well as some of the early companies in biotechnology.
		During his years at Drexel, he was involved with healthcare investment banking transactions that had a total value in excess of $2 billion.
	www.tiger21.com /presenters.htm?pid=856 (391 words)

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