...Harvard Business School 9-298-016 Rev. April 2, 1998 Chase Manhattan Corporation: The Making of America's Largest Bank * In mid-August 1995, Walter Shipley, chairman and CEO of Chemical Banking Corporation, was preparing to leave the bank’s Manhattan headquarters building after a long day. For the past four weeks he and other senior Chemical managers had been in intensive negotiations with their counterparts at Chase Manhattan Corporation, including that bank’s chairman and CEO Thomas Labrecque. At issue was whether the two banks would agree to merge in a friendly transaction. If completed, the merger would produce the largest commercial bank in the United States, and the fourth largest bank in the world, with total assets of nearly $300 billion and over 74,000 employees. Shipley believed the merger would create value in two ways. First, it would allow the banks to realize substantial savings in operating and overhead costs. The banks’ businesses overlapped in many areas, and they both maintained extensive retail branch networks in the Downstate New York area. In addition, both banks were headquartered in Manhattan, and maintained elaborate trading floors in both Manhattan and London. Cost savings of up to $1.5 billion were deemed possible, but this would require reducing the banks’ combined workforce by 12,000 employees and closing over 100 branches. The second benefit of the merger, in Shipley’s view, was that as a larger bank with significant product and market leadership...
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...I dreamed of her last night again. As vivid as always, I was left with the idea of her and no image. She stood before me, her face in shadows, obscured from my view. Her hands reached out to me, beckoning me forward. Seeming to float, I moved toward her, long slender fingers gently grabbing my wrists, pulling me forward. Happily I submitted to her embrace, feeling her naked breasts press against mine, her skin silkily brushing against mine, intoxicating me with the sensations. Still, I couldn't see her face, the one part of her I really wanted to see. Frustrated, I tried to cup her face with my hands and force it into the light. Laughing lightly, she resisted, pulling away completely, turning from me. Watching the muscles in her naked back flow as she walked away, I felt entranced. Sexual desire and lust coursed through me, my blood warming and traveling as my need grew. My head felt light as I again went to her, this time to a bed that appeared in the room. With a sure touch she pushed me down onto the bed, not that I fought her any way. I was dying to see her, dying to see the face on this woman who had tormented my dreams too often, but I was also hungry for her touch. With confidence born of shared love, she began to stroke my body, her caresses fanning the flame within me. I know I must have been moaning, but I couldn't hear anything but the sound of my own heartbeat in my ears. For the thousandth time I let myself sink into her love making, not...
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...BANGLADESH TRADE POLICY SUPPORT PROGRAMME Comprehensive Trade Policy Of Bangladesh - Draft Final, 15.09.14 - Trade Policy Support Programme (TPSP) Project Task Force – HAK Tower (2nd floor) 3/C-1 Karwan Bazar, Dhaka 1215, Bangladesh 0 BANGLADESH TRADE POLICY SUPPORT PROGRAMME TABLE OF CONTENTS List of Abbreviations ........................................................................................................................ 6 Preamble ....................................................................................................................................... 10 Chapter 1: Rationale, Objectives and Constituents ..................................................................... 11 1.1 Rationale .............................................................................................................................. 11 1.2 Objectives ............................................................................................................................ 14 1.3 Constituents............................................................................................................... 16 1.3.1 Trade in Goods....................................................................................................... 16 1.3.2 Trade in Services and Investment.......................................................................... 17 1.3.3 Behind the Border Policies ....................................................................................
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