Word: branched
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Dates: during 1980-1989
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...father and came up with the idea to seek business in the hinterlands. "There were a whole lot of farmers, storekeepers and small- town professionals out there that brokers weren't calling on," recalls Ted Jones, 61, now the firm's senior partner. In 1955, Jones opened its first branch office over the Woolworth's in Mexico, Mo. After growing slowly at first, the company has almost exploded in recent years. A decade ago Jones had revenues of only $12 million. Last year the firm made a profit of $34 million on revenues of $240 million...
Despite its down-home strategy, Jones is no bumpkin in the new world of high-tech stock trading. The company has spent more than $30 million to become computerized, and plans to lay out an additional $100 million for advanced equipment, including satellite links between headquarters and the branch offices, over the next four years. Jones has expanded cautiously into the suburbs of Chicago and Kansas City, but the firm still primarily looks for homes where the buffalo could roam. Says Jones Managing Partner John Bachmann: "We're not going to fiddle with the formula that has proved successful...
...they can become manic and even a little careless about where to put the money next. "Clients are calling about speculative stocks that they've heard about at cocktail parties over the weekend. I'm worried about this," says Jerry Tisserand, a broker for Thomson McKinnon Securities at a branch in Evansville, Ind. At the same time, many investors realize that a bear market could hit at any moment. Some become spooked by sudden downdrafts and sell too soon. "It's hard to keep people in the volatile blue chips. They're getting whipsawed," says Richard Geier, a broker...
...fastest-growing merchants in Europe, where 51 of its stores are located, IKEA is now successfully bringing its pizzazz and promotion to the U.S. The company put a store in suburban Philadelphia two years ago and followed with the Dale City outlet in 1986. A third branch is scheduled to open in 1988 near Baltimore...
...existence actually ended in divorce that year. "If you take in marriages that occurred 30 and 40 years ago and combine them with recent marriages, it certainly wouldn't turn out to be 50%," agrees Arlene Saluter, a statistician in the Census Bureau's marriage and family statistics branch...