Word: broker
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Dates: during 1980-1989
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...being decisive, will need to be. The company has been rocked by bad ventures. Last year Merrill Lynch spent $88 million to satisfy customers to whom it had sold annuities issued by Baldwin-United, which later went bankrupt. A career-long employee whose father was a Merrill Lynch broker in Williamsport, Pa., Schreyer recently led an extensive study of the company's problems. Dubbed SWAT, for Schreyer Working Team, the group found the firm had tried to serve too many different types of customers...
...tips on Journal stories led to 46 instances of insider trading in the stock of 27 companies. Also charged in the suit, which is backed up by more than 200 pages of documents, are Kenneth Felis, a college friend of Brant's and another former Kidder Peabody broker, who is said to have gained $302,000 from the trades, and David W.C. Clark, 34, a New York City lawyer and country club crony of Brant's. Clark is believed to have made...
...scheme allegedly worked out between Brant and Winans in October had at first gone smoothly. The journalist would call the broker from a pay phone near the Journal's newsroom in lower Manhattan to alert him to upcoming stories. For instance, on Oct. 26 Winans told Brant about a negative story that was due to appear on Commodore International, the home-computer maker. By selling the stock short, Clark made a profit of $134,671.79. Not all the trades were successful, though. When a favorable story on oil service stocks, including Schlumberger, failed to move the stock higher, Felis...
...unprotected Government forests. Administration officials and allies, chief among them Idaho's Republican Senator James McClure, have been opposed to this, arguing that developers need "certitude" if they are going to invest in land development. Says Max Peterson, head of the U.S. Forest Service and the chief broker of the agreement: "Senator McClure originally thought that since the wilderness designation was permanent, then the nonwilderness should...
...size to a standard cordless handset, are just the beginning. There is usually also a onetime $50 charge to buy a number, a $35 monthly service fee and a charge of 400 per minute for prime business-hour calls. But users do not mind. Says Washington Real Estate Broker Dee Carl: "In my business, I can pay for a cellular phone in one deal...