Word: broker
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Schlesinger then sued the brokerage for invasion of privacy in Massachusetts county court and won the case last June (Merrill Lynch is appealing). The judge issued an injunction prohibiting Merrill Lynch from calling Schlesinger, yet barely two months later, a Merrill Lynch broker rang him up. The attorney filed a complaint for contempt of court, and Merrill Lynch was ordered to pay $300. Said a spokesman: "We tried everything to keep Mr. Schlesinger's name off the lists. But we have 12,000 brokers. One of the calls slipped through...
...White House aide rarely gets to write his own job description, but that's what Roger Porter did back in 1980. While teaching government at Harvard, Porter wrote Presidential Decision Making, a book describing a system in which the President designates "honest brokers." These senior aides, unlike Cabinet officers, are not wedded to particular policies or constituencies. The broker's job is to elicit advice from each department that has a stake in a decision. The broker then helps distill the main arguments and options for the President, who ultimately hears a few senior advisers debate head to head...
This model nicely fit the wide-open White House that George Bush wanted. So he recruited Porter, 43, whose mild and cerebral persona almost defines honest broker, to play the role for domestic issues. National Security Adviser Brent Scowcroft does the job for defense and foreign policy...
...type of shady deal was "front-running," in which a broker profits from advance information by trading ahead of a customer's order. A crooked broker might receive an order, for example, to buy 250,000 bu. of soybeans at $5.85 a bu. He could easily execute his own order to buy 50,000 bu. first. Later, when the market reacted to the larger order by pushing prices up to $5.95, the trader could sell his contracts, pocketing $5,000 in profits. A second illicit practice uncovered by the feds was "curb trading," in which brokers conspired to consummate deals...
...like to show off what they have. But among the pinstripe set, posing for Playboy is going too far. Seven of the nine stock-market workers featured in the August cover story, "Women of Wall Street," have left their jobs since their photo sessions last year. Lisandra Trujillo, a broker for South Richmond Securities, returned to school. But Robin Mormelo, an administrative assistant for the Stuart-James brokerage house, says she was denied raises and felt compelled to quit. Says Mormelo: "Maybe I'm naive, but what difference does it make what I do when...