Steinberg
Strategic Concepts & Mechanics
Primary Evidence
"Steinberg had started a computer-leasing business, Leasco, when he was just a couple of years out of Wharton, in 1961. That very profitable company’s stock had soared in the heady stock market days of the late sixties, making it possible for little Leasco to take over the conservative, 150-year-old Reliance Insurance Company, nearly ten times its size, by tendering to its shareholders a package of the highly valued Leasco paper."
"Lindner and Steinberg—who is about twenty years younger than Lindner—had followed somewhat similar career paths. Both were outsiders, who had amassed their own fortunes, and who had forever alienated the establishment with their onslaughts on major banks. And both acquired property-and casualty-insurance companies which would assume significant stock positions (in Steinberg’s case, sometimes with hostile intent) in other major companies."
"Steinberg had started a computer-leasing business, Leasco, when he was just a couple of years out of Wharton, in 1961. That very profitable company’s stock had soared in the heady stock market days of the late sixties, making it possible for little Leasco to take over the conservative, 150-year-old Reliance Insurance Company, nearly ten times its size, by tendering to its shareholders a package of the highly valued Leasco paper."
"Lindner and Steinberg—who is about twenty years younger than Lindner—had followed somewhat similar career paths. Both were outsiders, who had amassed their own fortunes, and who had forever alienated the establishment with their onslaughts on major banks. And both acquired property- and casualty-insurance companies which would assume significant stock positions (in Steinberg’s case, sometimes with hostile intent) in other major companies."