Word: broker
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Dates: during 1980-1989
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Most Wall Streeters dreaded the change, correctly predicting a rash of mergers among brokers and drastically altered ways of doing business in the securities markets. But Schwab, now 44, embraced negotiated rates. He began offering clients deep commission discounts on securities transactions, sometimes slashing them to only 30% or 40% of their former levels. Schwab quickly became the largest discount broker in the U.S., with offices in 40 cities, 600 employees and 220,000 clients. For its fiscal year ending last September, the firm had revenues of $42 million and profits of $5 million...
...homicide," says Noguchi. "It was not a suicide. It was an accident." His autopsy revealed that she had drunk "seven or eight" glasses of wine. There were about a dozen craft near by. Aboard one was Marilyn Wayne, a Beverly Hills commodities broker, who says she was anchored just 100 yds. from the Wagners. At about midnight, she says, "I could hear someone saying, 'Help me! Somebody help me!' " She claims the cries lasted for more than 15 min. and that from somewhere in the darkness came the answer: "Take it easy. We'll be over...
Gradually they became sophisticates in international finance. For one deal, says Steinberg, they siphoned money through a yacht broker in Miami to a bank in the Caymans, thence to Hong Kong, and ultimately to Thailand. Later Steinberg dispatched cash and trusted aides to start a multimillion-dollar agricultural operation in Kenya. The crop: marijuana...
David Jensen, 38, a real estate broker in West Bloomfield, Mich., has traditionally bought a new car every two years. He purchased his fully equipped Lincoln Town Car for $13,000 in 1979. Last week Jensen returned to his dealer's showroom to eye the new Continental, but he quickly became another victim of what Detroit calls "sticker shock." The price on the car's window: $25,692. Says he: "Damn, that is expensive! It persuaded me to keep driving my '80 until it won't go any more. Then I'm going...
...both Nixon and the White House.) Just back from that trip, Nixon talked with TIME's Washington Contributing Editor Hugh Sidey: "This is a Reagan opportunity. The Middle East is crying out for strong leadership. It is not enough for the United States to be a broker...