for themselves, natch.
Wealth creation??? On Sun, Feb 06, 2005 at 05:36:22AM +0000, Carl Remick wrote: > The Drexel Diaspora > > By JENNY ANDERSON > > Published: February 6, 2005 > > ... Today, almost exactly 15 years after ... [Drexel Burnham Lambert's] > demise ... many ... young [ex-Drexel] employees swept up in the Drexel > diaspora have risen to prominent positions on Wall Street. ... > > 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. Few of them > were crucial players in building Drexel's core franchise, junk bonds. And > few of them were especially close to Mr. Milken, who has since survived > cancer, established two major foundations devoted to cancer research and > become a major investor in an education initiative, Knowledge Universe Inc. > > But to a person, they all described their Drexel DNA as a crucial factor in > their success today. "It showed you the sky was the limit," ... [one] said. > "You realized you could make a difference in finance. The sheer volume of > deals, the market share you could have, your ability to add value to > clients, how you could drive your competition nuts, also how much wealth > creation was possible." ... > > <http://www.nytimes.com/2005/02/06/business/yourmoney/06drex.html?oref=login> > > Carl -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
