Why They're Not Partying At ShearsonGary Mcwilliams and Leah Nathans Spiro
These ought to be great times for American Express Co.'s Shearson Lehman Brothers Inc. The brokerage house's retail business is soaring, as investors flock to the stock market. Investment-banking earnings from its Lehman Brothers unit are booming, too, thanks to a slew of new underwritings. There's even talk that AmEx could raise $1 billion by selling half of Lehman to its management and public investors.
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