INVESTMENT: Felix the Fixer

Has Felix the Fixer done it again? No one can yet say for sure, not even Felix G. Rohatyn, the 46-year-old Austrian-born partner in the New York investment-banking firm of Lazard Frères & Co. But Rohatyn has at least got the machinery started for a complicated and inventive deal between Textron Inc. and Lockheed Aircraft Corp. that will add new luster to Lazard Frères' reputation as masters of the art of rescuing faltering corporate giants by arranging mergers, reorganizations or financial aid. Says one Rohatyn admirer in the treasurer's office of a...

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