The Predators' Ball Test | Final Test - Medium

Connie Bruck
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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. Who told Perelman that Revlon was not for sale?
(a) Tubby Burnham
(b) Michael Milken
(c) Michael Bergerac
(d) Carl Icahn

2. What company did Wedvick find with a high investment-grade rating?
(a) Drexel
(b) Standard and Poors
(c) Clarendon, a Bermuda based reinsurance company
(d) Mutual of Omaha

3. Why did Atlantic Capital have to stop selling Wedvick's contracts?
(a) Wedvick's contracts became worthless.
(b) Pressure on Kansa came from Standard and Poor's and a downgrade to an A-rating.
(c) Drexel bought them out.
(d) It became over-extended and faced bankruptcy.

4. Why did the LTV situation not affect Drexel?
(a) Drexel used its own money to secure the LTV bonds.
(b) The thrifts that collapsed and the defaults that occurred were not among Milken's customers
(c) Drexel engineered a second buyout of LTV.
(d) Drexel pointed out the way LTV misused junk bonds.

5. What was Peer Wedvick devising?
(a) flipping houses and commercial buildings
(b) money laundering
(c) buying commercial paper
(d) a scheme to sell contracts involving housing funds

Short Answer Questions

1. Why did none of the thirty bills introduced covering takeovers in 1984-85 pass?

2. What did Milken do for people who had worked with him?

3. What did the 1985 President's Council of Economic Advisers report on the issue of M&A conclude?

4. What often benefited Drexel in dealing with its clients?

5. For what did Boesky claim a $5.3 million payment was made to Drexel?

Short Essay Questions

1. Tell something of the anticipation associated with SEC and FBI investigations into Drexel and Milken.

2. How was fear affecting Drexel during the investigations?

3. Why did Sanford Sigoloff switch from Salomon Brothers to Drexel when he was acquiring Wickes?

4. What evolved after many customers first dealt with Milken?

5. How did Milken disagree with the idea that liquidity was scarce?

6. What role did LTV play in identifying a weakness in the junk market?

7. What was James Grant's position on where things would eventually lead in the credit cycle?

8. Before Revlon, what had been Perelman's biggest success?

9. Why were other investment firms not as successful as Drexel?

10. How widespread was Milken's competition by the fall of 1986?

(see the answer keys)

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