Word: dealers
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Dates: during 1980-1989
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...proud independence and stubborn insistence on advocating unpleasant proposals?he hammers away on the need for a 500-per-gal. gasoline tax to reduce energy consumption?have won much favorable media attention and a core of devoted followers. But the core remains small. John Connally's smooth wheeler-dealer conservatism has excited corporate executives but not the electorate; he has been reduced to staking everything on a strong showing in the primary in South Carolina, and even there he is running badly in the polls (8.8% in the latest...
Silvestri, a New Jersey real estate dealer whose pushy tactics aroused the suspicions of some of his intended clients, including three New Jersey Congressmen...
...market turmoil intensified, small investors found it increasingly difficult to buy or sell gold or silver coins. Normally, dealers provide price quotes over the phone, with the quote remaining in force at least until the next price "fixing" on a major bullion market. But last week, investors had to go to a dealer's shop in person and take their chances with whatever price prevailed at the moment. The difference could have been as much as $50 or even $70 in a single hour. Some dealers even refused to buy any gold or silver. Their inventories were already bloated...
...like those ordered earlier by New York's Commodity Exchange. Yet before Tuesday was out, buyers were rushing back in to take advantage of the "bargain" rates of $680 for gold and $34 for silver, and the metals began rising all over again. Said Les Edgar, chief bullion dealer at London's Sharps, Pixley Ltd.: "It's a casino business now, and people are playing it that...
...Dealers pay cash, and then they deliver the scrap to the few smelting companies that have the special furnaces capable of reaching the extraordinarily high temperatures that burn away alloys. Before the dealers are paid, they must wait until the metal is melted down, assayed, and formed into bars by the refiners. In the mean time, dealers take bank loans to finance their inventories. But what used to be a wait of a few weeks for payment has been lengthening to four or five months as the smelters dig out from under growing backlogs. One Manhattan dealer bought so much...