Shearson Lehman Hutton: The brokerage house reported...
From Times Staff and Wire Reports
Shearson Lehman Hutton: The brokerage house reported a first-quarter loss of $915 million, compared to a loss of $15 million in the same period last year. Revenue declined 13% to $2.6 billion. The current results included a restructuring charge of about $630 million, a charge of $157 million from a change in accounting methods and a $32-million charge for additional loan loss reserves. The 1989 results included a $35-million pretax writedown of MCorp securities.
