Drexel Talks Stall: Drexel Burnham Lambert Group...

Drexel Talks Stall: Drexel Burnham Lambert Group came close to an agreement with its creditors on how to keep its business running while it sells off assets, but last-minute talks broke down, lawyers said. Drexel and its creditors reached an agreement in principle earlier in the day, and the bankruptcy court overseeing the firm’s Chapter 11 filing scheduled a late-afternoon hearing at which the pact could be completed. But negotiations collapsed over the issue of how much money Drexel would need to continue operating. Another hearing is scheduled for Friday.