Drexel Burnham Lambert
Drexel Burnham Lambert was one of the most profitable Wall Street investment banking firms during the late 1970s and most of the 1980s. The firm had its most profitable fiscal year in 1986, netting $545.5 million. In 1987 the firm's star bond trader, Michael Milken, earned an annual salary of $550 million. While this was the largest cash compensation that year, Sam Walton's stake in Wal-Mart appreciated $4 billion in 1987 (http://reason.com/9302/fe.dk.gekko.shtml) (see also executive compensation).
Related Topics:
Wall Street - Investment banking - 1970s - 1980s - Fiscal year - 1986 - 1987 - Michael Milken - Sam Walton - Executive compensation
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