Word: broker
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Dates: during 1980-1989
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Born in Budapest, Soros moved to Britain in 1947. He subsequently attended the London School of Economics. In 1956 he moved to the U.S. and worked for ten years as a broker and stock analyst. In 1969 Soros started the fund that became Quantum with only $250,000. Members of the Rothschild family and other rich Europeans soon kicked in an additional $6 million. Since then the fund has grown mostly through reinvested profits. Because Quantum is registered outside the U.S., Soros and a few members of his Manhattan-based management team are its only American investors...
...part of Cerezo's intricate diplomatic skein. Last month Cerezo met with President Daniel Ortega Saavedra in Nicaragua. The Sandinista leader reiterated his refusal to negotiate with the U.S.-backed contras, but the two agreed to keep talking. Cerezo's critics believe his attempt to be an honest broker in the Nicaraguan conflict has jeopardized Guatemala's ties to the U.S. This year American military aid was slashed to $2.4 million, less than half the 1986 level. While Guatemalans suspect that the reduction is Washington's way of showing its displeasure, U.S. officials deny that. Congressional sources say the decrease...
...unanimously to adopt merger guidelines that are stricter than those used by the Justice Department. Many states may now try to block some deals, no matter what the Federal Government says. Still, any legislation and legal action to curb megadeals will take time. Until then, says Wallace Turner, a broker at Manhattan-based Smith Barney, "takeover plays are alive and well." And plenty of stockbrokers, investors, traders and dealmakers intend to get in on the action while it lasts...
Some American business managers are pleased with the investment boom. Mike McCormack, a leading commercial-property broker in Honolulu, credits Japanese investments with pulling Hawaii out of a long real estate slump. Since Japanese real estate investors tend to buy for the long haul, many industry experts believe they will make excellent landlords, committed to maintaining the value of their properties. Other U.S. business executives simply view the real estate boomlet as a harmless way to handle America's lopsided balance of payments with Japan by in effect trading high-rises and land for VCRs and cars. After...
...central character of Memoirs, a securities analyst named Nick Halloway, becomes the ultimate inside trader when a botched demonstration of an exotic new technology makes him transparent. He slips into the offices of corporate raiders, overhears their takeover plans and makes a fortune by telephoning orders to his broker. Guiltily, Halloway offers a classic economist's rationale: "The invisible hand taking its own small...