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To: H James Morris who wrote (143733)7/12/2002 5:04:02 PM
From: Oeconomicus  Read Replies (5) | Respond to of 164684
 
HJ, what might this be sign of?

FleetBoston to shut down Robertson Stephens arm

NEW YORK, July 12 (Reuters) - FleetBoston Financial Corp. (NYSE:FBF - News) is shutting down its investment banking arm, Robertson Stephens, a Fleet spokesman said on Friday.

Fleet's predecessor, BankBoston, paid $800 million for the investment bank in 1998, but the investment soured as the tech industry -- Robertson's specialty -- tumbled.

Fleet was trying to sell the bank to a competitor or Robertson's management but was apparently not successful.



To: H James Morris who wrote (143733)7/13/2002 10:00:23 PM
From: Victor Lazlo  Respond to of 164684
 
In a speech on Wall Street, President Bush spoke out against corporate irresponsibility, and he warned executives not to "cook the books".

After hearing this, Martha Stewart said, "Actually, the correct term is 'saute the books' ".


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