Short Takes on High Yields


Prudential Securities combined its high yield unit with its mergers and acquisitions department to better enable it to identify ways to invest its own money along with its clients, according to Investment Dealers' Digest, a sister publication of High Yield Report. The new department, which will have 40 professionals, will report ultimately to Paul Scura, head of investment banking. The move was precipitated by parent company Prudential Insurance Co. of America's move to be more active in merchant banking...

Bell Atlantic made its much-anticipated request of the FCC to allow it to enter the long distance market in New York state. The Bell said it complied with the 14-point checklist to open its network to competitors. Not surprisingly, fellow Baby Bell BellSouth applauded the move and announced that it will make a similar request for the long distance market in Georgia...

Daniel Akerson joined Nextlink Communications as chairman and chief executive officer after resigning his chief executive position at Nextel Communications in mid-July. Meanwhile, Nextlink's president and chief operating officer George Tronsrue resigned last week to pursue other career opportunities. Both telecoms are controlled by Craig McCaw.