Word: brokering
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...broaden and bolster their U.S. operations, Japan's big securities houses have hired several of America's top moneymen. Last week Nikko, Japan's second- largest broker, scored a major coup. Stephen Axilrod, the Federal Reserve system's top staff official, said he is retiring to become vice chairman of Nikko's U.S. unit. Nikko is one of four Japanese firms bidding to become primary dealers in Treasury securities, which are bought and sold by the Federal Reserve as a way of controlling the U.S. money supply. But Axilrod stressed that he will do more than simply advise Nikko...
...sugar broker from the Virgin Islands named Sosthenes Behn founded International Telephone & Telegraph, hoping to link callers around the world much as AT&T had connected phone users in the U.S. For decades thereafter, Behn's successors at ITT remained true to his vision. Even when ITT's acquisitive chairman Harold Geneen began buying dozens of companies in such fields as aerospace, bakery goods and cosmetics in the 1960s and 1970s, he kept ITT firmly planted in global telecommunications...
...into his own pocket to pay for the proceedings--including a vase of swimming goldfish to decorate each of the 24 tables at the reception and a couple of bazooka-like armaments that shot periodic showers of confetti and red feathers onto the dance floor. Vincent, a Wall Street broker, explains, "We wanted to do it our way. We did not want to hear from our parents that we should do this or should not do that...
...bill is made not on the merits of the claims but according to the ancient rule of who-you-know. Says one Senate aide: "People with access and power and money get them, and those without don't." In particular, the rules are prime trading currency that a broker like Packwood needs to win the support of key legislators, who are thus able to please powerful constituents. The present tax bill might never have cleared the Senate Finance Committee without rules benefiting a slew of projects in the New Orleans area, like the Riverwalk shopping-and-office development, that were...
...Arab side, the sense of betrayal is deep. The Arabs feel that Washington has moved closer to Israel than ever before, thus endangering U.S. strategic interests and abandoning claims of being an honest broker. The erosion of the American image of fair-mindedness, says a high-ranking Egyptian official, risks "the destruction of goodwill accumulated over many years." Secondly, though they understand the U.S. reaction to terrorism, the Arabs are shocked that the U.S. appears to blame the outbreak on the entire Arab world. Says Ashraf Ghorbal, a former Egyptian Ambassador to Washington: "Terrorism has become the lens through which...