Word: broker
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Dates: during 1980-1989
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Despite the fall-off in vitality, the "Heard on the Street" column is still avidly read. "It's something that people turn right to," says Jay Marshall, a Merrill Lynch broker in Beverly Hills. "The stocks in the column get a lot of action." Concurs Jay Goldinger, a California investment adviser: "I don't read it for hot tips. But you have to know what's in the column so you'll know what's going to be happening in the market...
Some Wall Streeters professed little surprise about the newspaper leaks. Said one: "No oneever had the view that everyone is perfectly clean." Swapping facts and gossip about companies, moreover, is a favorite Wall Street practice. Experienced brokers said they often knew about stories that publications were preparing. They noted that journalists frequently misled them about either the timing or the direction of a story. Said one broker: "We both play games...
Lebanon might well be called the greatest foreign policy defeat for the U.S. in recent history [WORLD, March 5]. Our diplomatic decisions were a disaster because we were not an objective broker. Resorting to naval and military force only emphasized our ineptitude and reflected the desperation of our leaders...
...John Tower of Texas, the ultra-hawkish chairman of the Senate Armed Services Committee, had become a broker. "Tower got Reagan to come down, and he got Domenici to come up," says one participant in the discussions. "He made the deal possible." The bargain between President and Senators was cut last Wednesday afternoon in the White House Cabinet Room. Reagan made what he said was his final offer: a 7.5% Pentagon increase next year. "We're all supposed to be leaders," he told his G.O.P. comrades, among them Majority Leader Howard Baker. "This is a time for leaders...
...gone, along with the Marine peace-keeping force, were the Reagan Administration's dreams of helping President Amin Gemayel rebuild his country. The leaders of Lebanon's Muslim and Christian factions met in Lausanne, Switzerland, for a round of reconciliation talks last week, but the only power broker on the premises was Syrian Vice President Abdel Halim Khaddam. In fact, the Lebanese representatives wryly referred to Khaddam as "the high commissioner," an allusion to the French official who ran Lebanon under a League of Nations mandate before the country gained independence...