In an unusual advertisement-cum-apologia, Salomon Inc., parent of Wall Street's beleaguered Salomon Brothers, ran spreads in major newspapers last week that both touted its relatively reassuring third-quarter report and warned shareholders and employees alike of the struggle that remains. While the company set aside $200 million for expenses tied to the recent scandal and other suits, it helped pay for that reserve by eliminating $110 million that had been earmarked for employee bonuses in 1991.
"The fine performance of some people subsidized truly outsized rewards for others," read the ad, which was signed by interim chairman Warren Buffett. From now on,...
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