Word: dealers
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Dates: during 1980-1989
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...government-securities market, a freewheeling, $200 billion-a-day bazaar in which federal notes and bonds are traded, was rocked last week by the failure of its second dealer in a month. Bevill, Bresler & Schulman Asset Management, a small New Jersey-based firm, filed for bankruptcy under Chapter 11 after admitting that it could not meet some $140 million in debts to its customers, including about 45 savings and loan associations. The Securities and Exchange Commission sued Bevill, Bresler for fraud, charging that the firm secretly drained its customers' investments to make up for heavy trading losses. The failure comes...
...This was the most buoyant furniture sale I've had in 20 years," says Christopher Hawkins, Phillips' managing director. "This has been my busiest month ever," says Rodd McLennan, an antiques dealer in Chelsea. "Mostly because Americans were buying furniture, always furniture: Regency, Biedermeier and English country house." Despite the price hikes, bargains can be found. One American woman talks gleefully of finding some Victorian pressed glass for almost nothing. "We are in pig heaven," she says. "This is play money buying treasures...
...Louvre des Antiquaires in Paris, where an inlaid l8th century commode starts at $10,000, tourists are bidding on practically everything. "The Americans are in the process of buying out the entire French patrimony," complains a haughty young dealer who is doing his best to help them. "Everything, from the 12th century to the 20th, absolutely everything. And prices? There is no limit." France has a wide variety of luxuries, and despite the new exchange rates, Parisian prices too remain pretty luxurious. As one survivor puts it, "Paris has gone from the ridiculous to the merely exorbitant." For oenophiles...
...throws one curve and back on base Willie Harkissian, a wheeler-dealer before he even leaves the womb, is born with his twin, Ben. The agreement: Willie will have "what the world calls brains"; Ben will "get out of this cave first." He will play Abel to Willie's Cain, and also be a deadly left-handed hitter, deadly that when, years later, he slams a teammate's pitch into a dark summer night on a date, he hits Clare Bishop in the forehead and she goes into a coma...
...Xavier University's field house for an emotional rally to urge the state to speed up action. New York's Citicorp has emerged as the prime merger candidate. A host of state and federal investigators are looking into Home State's ties with E.S.M. Government Securities, a Fort Lauderdale dealer in Treasury bills and bonds whose March 4 closing forced Home State out of business. A central figure in these probes is Financier Marvin Warner, the owner of Home State and formerly a heavy investor in E.S.M. Last week a group of Home State depositors filed a $432 million lawsuit...