Inside The Pressure Cooker: EJV Partner First Boston Nixes Cash Call, Salomon Comes Close

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Over the past few months, the EJV Partners L.P. has endured all manner of change and ferment -- from senior-staff departures to double-digit lay-offs to repeated strategic reversals to the appearance on the scene of a would-be seventh partner. Now, however, details have emerged as to exactly what lies behind all this activity, and just how tightly the six partners are squeezing the struggling joint venture.

Sources close to the EJV say that the most drastic measure taken was the refusal of

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