Word: broker
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Dates: during 1990-1999
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...weeks at four properties in Hilton Head, S.C., where beachfront property was too expensive for him to buy outright. Strong and his peers are also getting variety through bartering. For a fee of about $120 a year, companies like Resort Condominiums International and Interval International will broker an exchange, letting time-share owners in, say, Florida, the most popular destination, journey off to Colorado or Europe...
...about $3 million for a precious 30 sec. This week the portal AltaVista, which until six months ago didn't even have a marketing department, will kick off a $120 million advertising blitz. You can't turn on business-news channel CNBC without seeing a barrage of online-broker ads, and broadcasts of the World Series and pro football are packed with obscure Web pitches, from VitaminShoppe.com to Youbet.com an online horse-racing site...
...Then, Monday morning, a surprising blow came at the hands of a New York Republican power broker. Staten Island borough president Guy Molinari, who months earlier had thrown his weight behind the Texas governor, announced he would head up the New York campaign of Bush's chief GOP opponent, Arizona senator John McCain. Molinari has had close connections to Bush, having run his father's 1992 New York presidential campaign. Molinari was cryptic about the sudden switch, saying Bush did nothing to dissuade him but that McCain "is best able to continue the legacy of leadership of George Bush...
...billionaire Robert McNair was oilman-frank about how he brought the NFL back to Houston ?- by going "higher than any reasonable person would go" with a negotiations-ending $700 million bid for a franchise. "We knew we differentiated ourselves," he said. Result? Two groups (one led by Hollywood power broker Mike Ovitz) that wanted to bring a team back to oft-abandoned Los Angeles are going home unhappy. And the price of a sports team ? which these days comes with the additional cost of the kind of snazzy stadium that McNair is promising in Houston ?- has just been bid further...
Maybe not, but plenty of other folks are. The number of online trading households in the U.S., which totaled 4.3 million in 1998, is expected to pass 20.3 million in 2003. And while the average online investor is 39, the average person investing with a traditional broker is 52. That age gap is what finally got to Merrill. Says Thomson: "We had to look around and ask, 'Are we going to inherit the children of our clients automatically, or are we going to have to put up our dukes and start fighting...