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Corporate America is dominated by chief executives who could use a good kick in the rear, according to legendary raider Carl Icahn, who spoke at Bear Stearns' annual credit conference in New York last week.

Agence France Trésor, the French treasury, is considering coming to market with its first non-euro denominated bond issue, Bertrand de Mazières, chief executive, told BW last week.

John Hancock's Investment Grade Bond Fund plans to add mortgage-backed securities to its portfolio.

Battle of the bands... Joan Osborne and Bruce Hornsby performed at the Bear Stearns global credit conference last Tuesday night, while UBS attempted to draw the crowds by holding a separate party where The Nerds performed.

Putnam Investment's European high-yield team is looking to single-B credits as a destination for funds from new continental mandates.

Rating agencies are expanding their high-yield short-term rating efforts in an attempt to meet the needs of investors, who are increasingly separating liquidity risk from the total package.

* Applied Extrusion Technologies presented before a standing-room only crowd of investors eager to hear the company's plans in light of Standard & Poor's downgrade of its senior unsecured notes to double-C last Monday.

The liens may be second but the securities are apparently first on investors' minds.

--Don Pollard, global head of Credit Suisse First Boston's syndicated loan group, on the Caribbean Restaurant dividend deal, that was replaced with an outright sale.

--Carl Icahn, on his outlook for the U.S. economy and corporate America.