Connect with us

News Report

Crisis Means a New Business Era – The Wall Street Journal

WebSite Design  404-590-1763

Business

Crisis Means a New Business Era – The Wall Street Journal

The junk-bond-financed $6.75 billion buyout of United Airlines collapsed on Friday, Oct. 13, 1989. The stock market immediately dropped 191 points or almost 7%, equivalent to a 1,500-point drop today. Scary. Rod Berens, head of research at Morgan Stanley at the time, called a departmentwide meeting after the market closed. I dreaded going. I had…

Crisis Means a New Business Era – The Wall Street Journal

The junk-bond-financed $6.75 billion buyout of United Airlines collapsed on Friday, Oct. 13, 1989. The stock market immediately dropped 191 points or almost 7%, equivalent to a 1,500-point drop today. Scary.

Rod Berens, head of research at Morgan Stanley at the time, called a departmentwide meeting after the market closed. I dreaded going. I had a list of tech stocks I was recommending that got killed that day. When I showed up, I noticed several cases of champagne—a weird way to celebrate the loss of wealth. But why not?…

Real Life. Real News. Real Voices

Help us tell more of the stories that matter

Become a founding member

Subscribe to the newsletter news

We hate SPAM and promise to keep your email address safe

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

300*250

Popular Articles

Latest News

To Top