Word: brokering
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Grumbled Denis Healey, the Labor Par ty's shadow Foreign Secretary: "The time has come when we must tell the U.S. that the attitude of an evenhanded broker is not quite enough." In contrast, Prime Minister Thatcher and her ministers last week accepted the fact that Haig had to take a public stance of neutrality, but the British government made it clear to the Secretary that it would expect the U.S. to change its posture if his mediating talks failed; the U.S. would be expected to join in the European trade and economic sanctions against Argentina. Warned a British...
Those nominal prices do not take into account the array of so-called creative financing schemes that lower the final cost. As much as 70% of home sales involve some type of creative financing. Says Broker Bill Adams of W.T Adams & Co. in Atlanta: "We haven't made a house sale through a bank or an S and L in almost a year." The few houses that do not involve seller financing, he says, just "sit there and their real estate signs rust...
...Judge decides that the Middlesex County district attorney's office has compiled enough evidence to show "probable cause," he will transfer the case to a grand jury. Phyllis Broker, the assistant district attorney who is handling the case, said yesterday. The grand jury will hold a hearing to determine whether there is enough evidence to indict the suspects, Broker added...
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...
...notice: nearby Bank America Corp., parent company of the nation's largest bank, which was eager to move in fresh directions under its new president, Samuel H. Armacost. BankAmerica approached Schwab about a takeover last September, in a move to become the first U.S. bank to acquire a broker. After weeks of agonizing, Schwab decided to sell. The price: $53 million in BankAmerica stock. If the deal is approved by regulators, Schwab will stay on as boss of the new bank subsidiary...