Word: analysts
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...Schering-Plough would pay almost any amount of money to protect its exclusive right to sell Claritin, a drug that brings it more than $5 million in revenue a day. Claritin sales totaled $1.9 billion last year, and will balloon to $4 billion by 2002, according to a market analyst. To keep the money coming in, the company doubled its lobbying outlay starting in 1996 to more than $4 million in 1998. Among its other paid advocates: former Senator Dennis DeConcini; former Watergate assistant special prosecutor Richard Ben-Veniste; and Thomas Parry, former chief of staff for Senator Orrin Hatch...
...Fargo and Bank of America began barring noncustomers from using their ATMs in Santa Monica, Calif., after the city council banned surcharges. San Francisco residents may soon be facing the same fate. "The banks have a right to earn a return on their investment," argues Joseph Morford, a banking analyst for Dain Rauscher Wessels in San Francisco. The machines cost up to $50,000 each. But consumers now appear to be lowering their own costs by cutting back on trips to the ATM. Amortize that...
...wake of Judge Thomas Penfield Jackson's ruling on Friday. Things aren't as bleak as they seem, and the stock--depressed in recent weeks--could start to run very soon now that the bad news is out. In perverse Wall Street logic, "the cloud has been lifted," notes analyst Brian Goodstadt at Standard & Poor's. Except for Valley brats who compete with Microsoft (themselves fabulously rich), nobody really wants the stock to fail...
Munoz will be joined at shooting guard by a committee of four freshmen--Egan Hill, Brad Johnson, Jaime Irvine, the son of Detroit Pistons assistant coach George Irvine, and Billy Raftery, the son of television analyst Bill Raftery...
...that they have and lawmakers have hopped on board (barring last-minute bickering), not everyone is happy. "This is horrible legislation," says bank analyst Lawrence Cohn at Ryan, Beck & Co. "It creates a huge potential obligation for U.S. taxpayers." How's that? Cohn says the new bill will encourage concentration of financial power in a few hands, any one of which could topple the system if it failed--forcing a government bailout. He has strong support from the likes of consumer activist Ralph Nader...