Confessions of a Wall Street Analyst (55 page)

NYNEX

NYSE

O’Dell, Michael

offshore accounts

1 stock rating

O’Neal, Stanley

Oppenheimer & Co.

Orwell, George

Outperform.
See
Accumulate rating

over the Wall

analysts’ improper use of

Grubman’s use of

proposed ending of

Pacific Capital Group

Pacific Telesis (PacTel)

PaineWebber

Palo Alto Research Center

Pathnet

Peek, Jeff

pension funds

Perella, Joe

Peru

Peter Kiewit & Sons

Pets.com

pheasant hunting

philanthropy

Pincus, Mark

Portugal Telecom

price-to-earnings ratio

Prince, Charles (Chuck)

private-to-public discount (private market value)

privatization

proprietary calls

PT Indosat

Puck, Wolfgang

Purcell, Phil

Putnam

quarterly-earnings reports faking of at IDB

stock prices and

Quattrone, Frank

earnings of

federal investigation/indictment/conviction of

Grubman’s negative press and

influence of

IPO share spinning and

Reingold’s e-mail to

Quinton, Adam

Qwest Communications

background of

CEOs’ stock sales at

congressional hearings on

“culture of fear” at

current CEO of

Deutsche Telekom bid and

as disastrous stock pick

diversification of

employee savings losses at

finances of

Internet and

IPO and

MCI vs.

optimistic outlook of

Reingold’s downgrade of

SEC investigation/suit against

stock price underestimation and

US West merger with

valuation of

See also
Nacchio, Joe

ratings categories

CSFB’s system

See also specific categories
reciprocal purchase agreements.

See
swaps

Reduce rating

Reed, John

Regulation FD.
See
Fair Disclosure rule regulatory rules

Baby Bells and

international phone service and

local phone service and

loopholes in

misplaced faith in

NASD new standards for

needed enforcement of

selective disclosure and

telecom deregulation and

See also
antitrust; Federal

Communications Commission;

Securities and Exchange

Commission

Reif-Cohen, Jessica

Reingold, Jennifer

Reingold, Mark

Reingold, Muriel and Jack

Reingold, Paula Zimmer

Reno, Janet

research analysts.
See
analysts

research reports

analyst’s reputation from

benefits of positive

biased and misleading

compliance review of

factual summaries and

fraud and

“grandma” approach to

independence of

independent research firms and

insider information and

investigations of

investment banking fees and

mandated multiple independent

marketing of

pending merger deals and

“reasonable basis” for

Reingold’s first

retail brokers and

SEC restrictions on

stock movement from

“tone” and “notice” complaints about

resellers

restricted periods

retail brokers

analysts and

Rey, Francisco

risk arbitrage funds.
See
arbitrageurs road shows

Roberts, Bert

Rochester Telephone Company

Rohrbach, Clayton J., III

Rubin, Bob

Runyon, Linda

Ruvkun, Rick

S&P 500 Index

Salerno, Fred

Salomon Brothers

Salomon Smith Barney

actions against

compliance investigation and

Ebbers’s assets leveraging and

fine paid by

IPOs and

IPO share spinning and

Level 3 stock offering and

M&As and

rating system of

research compliance review and

Spitzer’s investigation of

telecom bubble burst and

telecom conference

See also
Grubman, Jack

Sarbanes-Oxley Act

satellite TV

SBC Communications

See also
Southwestern Bell

Schaeffer, Dave

Schaffer, Oren

Securities and Exchange Commission

banker-research conflicts and

fair disclosure rule

Grubman rule violations and

misplaced faith in

Qwest suit and

regulatory loopholes and

research report compliance rule

selective disclosure rule

Wall Street investigations and

See also
No-Action Letter

Securities Data Corporation

Seidenberg, Ivan

selective disclosure

Sell rating

analyst’s lack of benefit from

analyst’s quotas and

sell-side analysts

September 11 attacks

short sellers

Sidgmore, John

Sihpol, Theodore C., III

Silicon Graphics

Silicon Valley

Simril, Ken

Singapore

Singapore investment fund

Skilling, Jeff

small investors.
See
individual investors

Smith, Paul

Smith, Randall

Smith, Win

Smith Barney.
See also
Salomon Smith Barney

Somers, Dan

Sommer, Ron

Southwestern Bell

Ameritech merger

Pacific Telesis acquisition

See also
SBC Communications Spain

Speculative rating

Spies, Al

spinning

ban on

Grubman’s answer to

Congressional questions about

Reingold’s answer to Clark

McLeod request for

Spitzer, Eliot

extent of investigations by

rule changes and

settlements by

Sprint

downgrades of

Esrey resignation/severance package and

financial problems of

local startup competitors to

Qwest’s advantage over

tracking stock and

WorldCom bid for

Sprint PCS

SP Telecom.
See
Qwest Communications

SSB.
See
Salomon Smith Barney

AT&T purchase of

bubble burst and

as good investment

mergers and

WorldCom purchase of

State Street Bank

State Street Research

Steffens, John L. (“Launny”)

Stewart, Martha

stock analysts.
See
analysts stock brokers

stock indexes

stock market.
See
bull market; Wall

Street stock options

expensing of

stock ratings.
See
rating categories Strong Buy rating (CSFB system)

Strumingher, Eric

Sudikoff, Jeffrey

Sullivan, Scott

congressional hearings and

prison sentence of

WorldCom’s sham finances and

swaps

Szeliga, Robin

Taubman, Paul

Taylor, Elizabeth

technology companies

bubble burst and

IPO boom and

Vortex Conference and

Telecom Cafe

telecom industry

bubble in

bursting of bubble in

competition and

consolidations and

as deal center

decline of

deregulation and

eleven major companies in

Grubman as face of

Internet’s effect on

last hurrah for

mergers in.
See
mergers and acquisitions

momentum in

revenue inflation by

Salomon’s dominance in

September 11 attacks and

significance of Qwest’s entrance into

technology cross-fertilization with

turning point for

watershed year for

See also specific companies

Telecommunications Act of 1996

Tele-Communications

International

Telefonica de España

Telefonica del Peru

Teleport Communications

MFS secondary offering and

Teligent

Telstra

Tempest, Drake

terminal multiple

Thakore, Nick

3Com

TIAA–CREF

Time Warner

T-Mobile

Toole, Dick

tracking stock

Travelers Corporation

T. Rowe Price

Trujillo, Sol

as Telstra CEO

US West–Qwest deal and

Tully, Dan

2 stock rating

Tyco

Underperform rating

underpriced stocks

Unger, Laura

US West

financial problems of

Global Crossing bid for

Qwest merger

UUNet

valuation

value investors

Vander Ploeg, Mark

venture capitalists

Verizon

video services

Vodafone

Voice-Stream

Vortex Conference

Wachovia Securities

Waddell & Reed

Wallace, Sean

Wall Street

bonus checks

crash of 2000

reform proposals

scandals

as uneven playing field

See also
Bull market

Wall Street analysts.
See
analysts Wall Street investigations.

See also

Spitzer, Eliot

Wall Street Journal,
25

on AT&T Wireless IPO underwriting

Grubman critiques in

M&A league tables and

Wall $treet Week with Louis

Rukeyser
(TV program)

Walsh, David

Walter, John

Wann, Rudy

Ward, Chuck

Warner, Lara

Wasserstein, Bruce

Wasserstein Perella

Waters, Richard

Weaver, Connie

Web browser

Weill, Sanford I. (Sandy)

Grubman relationship

philanthropies of

Weingarten, Reid

Welch, Wayne

Weller, Tim

Wellington

Wheat, Allen

Whitacre, Ed

Who Wants to Be a Millionaire
(TV program)

Wiggin and Dana

Williams, Jeff

Williams, Robin

Williams Communications

WilTel

Winnick, Gary

civil suits against

congressional hearing testimony of

current situation of

personal finances of

restoration of some 401(k) losses by

See also
Global Crossing Winstar Communications

wireless telecom

BlackBerry capabilities and

See also
AT&T Wireless; cellular companies

Wolfe, Lee

Woodruff, Robert

Woodstock Inn

WorldCom

acquisition strategy of

bandwidth and

bankruptcy filing of

class-action suits against

congressional hearings on

downfall of

downgrades of

Ebbers’s loan from

finances of

as financial sham

glamour of

growth of

Grubman’s special relationship with.
See under
Grubman, Jack

IDB acquisition of

Internet transmission and

lawsuit settlements by

LDDS and

local startup competitors to