The Predators’ Ball (60 page)

Golden Nugget,
17
,
58
–60,
83
,
168

Golding, Faith,
196
,
198
,
201
,
202

Golding Family,
198

Goldman Sachs,
26
,
30
,
42
,
49
,
65
,
69
,
152
,
248
,
251
,
252
,
253
,
318
,
334
,
335

earnings of,
247

in financial scandals,
254
–55

mergers and acquisitions and,
95
,
98
,
200
,
206
,
231

Goldsmith, Jerry,
152
,
153

Goldsmith, Sir James,
14
,
17
,
149
,
205

Good, Daniel,
128
,
140

Goodyear Tire and Rubber Company,
251
,
334

Goren, Alexander,
113
,
160
–61

Grant, James,
266
–68

Grant's Interest Rate Observer
,
266

Great American,
36

Great American Management and Investment (GAMI),
305

great ideas, as “born bad,”
63

Great Lakes International,
118

Greenhill, Robert,
210
,
220

greenmail,
18
,
109
,
118
,
257
,
263
–264,
291

Icahn's use of,
18
,
109
,
156
,
157
,
161
–64,
169
,
173
–74

use of term,
155
–56

Green Tree Acceptance,
290
–91,
292
,
326

Groupe Bruxelles Lambert S.A. (GBL),
206
,
323

Gruntal,
151
,
152

Guarantee Security Life,
134

Gulf & Western,
120
,
161
,
200
,
258
,
295
,
322

Gulf Corporation,
231

Gulf Oil Company,
13
,
100
,
107
,
164
,
165
,
167

Guterman, Gerald,
118
–19

Gutfreund, John,
294

Hackel, Lori Anne,
see
Milken, Lori Anne Hackel

Hagin, Robert,
24

Hagman, Larry,
258

Halston,
236

Hammer, Armand,
258

Hammermill Paper Company,
156
–158,
160

Harrad's,
59

Harriman Ripley and Company,
26

Harris, Ira,
101
,
122

Harris Graphics,
322

Hartch, Joseph,
294

Harvard Business School,
57
,
277

Hayden Stone,
41

Hayes, Samuel,
270

Heffner, William,
146

Herrara, Caroline,
236

Hertzberg, Daniel,
320
,
321
–22,
329
,
343

Hessol, Gail,
268

Heyman, Samuel,
149
,
245
,
275
–76,
280

Milken's granting of autonomy to,
287
–88

Hickman, W. Braddock,
11
,
28
,
29
,
33
,
46

Highland,
154

“highly confident” letter,
166
,
167
,
182
,
221
,
250
,
251
,
290
,
304
,
344

use of term,
101
,
106
–7

high-yield bond funds,
46
–47,
55
–56

diversified,
46

high-yield bonds,
see
Chinese paper; fallen angels; junk bonds, junk-bond takeovers

Hilton Hotels,
17
,
60

Hilton International Co.,
233

HITS (Drexel's high-yield mutual fund),
79
–80

Hoffman, Robert,
325

Home Insurance,
290

Home State Savings Banks,
159

Horowitz, Harry,
24
,
53
,
243
,
260

House of Representatives, U.S.,
259
,
260

Hovnanian,
347
,
349

Hudson, Rock,
271

human-potential movement,
62

Hunter, Catfish,
195

Hunter, Sam,
253

E. F. Hutton,
16
,
40
,
41
,
47
,
65
,
128
,
140
,
346

IBG (Investment Banking Group),
339
–40

IBM,
94
,
298

Icahn, Carl,
149
–92,
245
,
318
,
332

ACF and,
19
,
161
,
164
,
169
,
173
,
185
,
186
,
190
–91,
201

Air Fund and,
102

background of,
150
–51

bluff and bluster of,
158

career path of,
151
–63

commitment letter demanded by,
165
–66

control and autonomy concerns of,
149
–50,
153
,
156
,
161
,
163
,
170
,
186
–87

as dedicated capitalist,
156

Drexel's post-Phillips relationship with,
169
–70

gambling of,
151
,
157
,
175

greenmail used by,
18
,
109
,
156
,
157
,
161
–64,
169
,
173
–74

image-consciousness of,
172
,
178
,
186

lawsuits against,
157
,
159
–60,
171
–72

lifestyle changes of,
189
–90

managerial talents of,
185
–86,
191

Marshall Field bid of,
113
,
159
–161,
189

Milken compared with,
154

Milken's relationship with,
18
–19,
170
,
186
–87,
288

National Can and,
125
,
126
–27

negotiating abilities of,
175
–76

philanthropy of,
189

Phillips Petroleum and,
13
,
19
,
107
,
163
–71,
173
,
191
,
203

at Predators' Ball (1985),
14
,
17
,
18
–19,
170
–71,
183

at Predators' Ball (1986),
183

proxy fights of,
154
–55,
157
–59,
164
–65,
168
,
172

tight-fistedness of,
153
,
189

TWA deal and,
19
,
170
–88,
191
,
202
,
263

Uniroyal and,
142
,
143
,
170

unpretentiousness of,
190

white knight transformation of,
175
,
177

Icahn, Liba,
190

Icahn and Company,
149
–92

formation of,
152

Kingsley's departure from,
153
–54

Kingsley's return to,
154

partners removed from,
149
–50,
153
,
156
,
160
–61

Schnall's stock in,
151
,
153

Icahn Group,
179

ILP (Investment Limited Partnership),
278

income tax,
37
,
96

evasion of,
139

trusts and,
34

inflation,
29
,
96

Ingersoll, Bruce,
260

insider trading, Boesky Day and,
see
Boesky Day

Institutional Investor
,
270
,
307
,
341
–42

insurance companies,
134
,
207
,
272
,
280
,
282

Drexel's displacement of,
246

private placements and,
45
,
46
,
100

interest rates,
63
,
70
,
71
,
91
,
263
–64,
281
,
283

leveraged buyouts and,
111
,
137

National Can deal and,
137

Triangle Industries and,
108
–9

International Nickel Company,
96

International Telephone and Telegraph (ITT),
194
–95,
239

Investing in Junk Bonds
(Altman),
268

investment banking, investment bankers,
63
–66

agent mentality of,
64

gambling operations and,
59
–60

institutional vs. entrepreneurial
65
,
66

problems of medium-size companies with,
43

relationship vs. transactional,
63

traders vs.,
63
–64

Investment Banking Group (IBG),
339
–41

investment-grade companies, defined,
27

Investment Limited Partnership (ILP),
278

Irell and Manella,
54
,
82

Jackson, Brooks,
260

Jacobs, Alan,
89

Jacobs, Irwin,
14
,
15
,
17
,
164

Jacobson, Ben,
111

James, Anthony,
169

Jamie Securities,
35

Japan:

debt-to-equity ratios in,
262

Milken in,
243
–44,
316

Jaquith, Peter,
196
,
219

Jefferies, Boyd,
318
,
329

Jefferies and Company,
128
,
318

Jefferies Group,
329

Jews,
150
,
154
,
160

anti-Semitism and,
29
,
36
,
205
,
331

in Burnham and Company,
31

job-formation claims,
348
–50

Joseph, Fred,
40
–46,
48
–49,
58
,
65
,
66
,
71
–75,
250
,
287
,
296
,
314
,
335
–41,
351
–54,
359

accountability factor of,
72
–73

ambitions of,
40
,
44
,
251
–52,
253
,
255
,
302
,
333
,
334

appointed chief executive officer,
251
,
303
,
336

background of,
40
–41

Boesky Day and,
329
,
335
–37

career path of,
41

Drexel employee views on,
337

as “Dr. Feelgood,”
40
,
341

“edge” development strategy of,
42
–43,
44

Engel reinstated by,
338
–42

finance department changes of,
43
–44

Gobhai's meetings with,
62
–63,
100
–101,
163
,
176

Icahn and,
170
,
171

Lipton and,
205

loyalty oaths considered by,
335

management problem of,
301

mergers and acquisitions and,
95
,
97
–98,
100
–101

on Milken as contra-thinker,
70

Milken compared with,
40
,
336
,
337

as Milken's face,
40
,
50
,
303
,
335
,
354

Milken's first meeting with,
44

Milken's investment disclosure to,
68

Milken's yielding to,
303
–4,
334
–337

new paper invented by,
71
–72

on overfunding,
290

on owner-managers,
67

political contributions of,
260

pragmatism of,
337
–42

at Predators' Ball (1987),
329

recruitment efforts of,
101
,
176
,
251
,
253
,
255

TWA deal and,
170
,
171
,
176
,
182

Volcker and,
264

Joseph, Stephen,
251

“Joseph doctrine,”
170
,
171

junk bonds, junk-bond takeovers,
12
–15,
17
–19,
44
–49,
56
–60,
90
–100

allure of,
28
–29,
46
,
47

commissions on,
46

competition and,
47
–48,
71
,
209
,
248
–51,
287