Word: duponts
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...That left little danger; so Perot, who might be described as a mixture of Billy Graham and Don Quixote, has sallied forth to rescue Wall Street from the dragons plaguing it. In 1970 he heeded pleas from John Connally and John Mitchell and pumped capital into duPont Glore Forgan, the country's third largest brokerage house, to save it from going under. Since then, he has infused almost $80 million and his evangelizing zeal into duPont, in which he owns almost 100% of the stock, and another big brokerage house, Walston & Co., in which he will soon control...
...will start the six-month, eight-hour-a-day course this fall. Perot says he prefers clean-cut ex-Navymen like himself. "I want people to identify with me, to create a closely knit team, rather than the lone wolves that characterize Wall Street," he says. Every duPont graduate has to sign a definitive employment contract that constrains him from leaving the firm for at least a year. But Perot can freely fire those employees who stray from the code of the pack...
...trades frankly on the appeal of his Horatio Alger career and apple-pie patriotism. "For 38 years of my life I was a 'little guy,' " reads one ad. "There are so many of us. We are America. We make this big engine go. That's why duPont is interested in the individual investor." To make duPont more accessible to small investors, Perot has opened its offices six days a week. He has even suggested that U.S. stock exchanges stay open 24 hours a day so that investors anywhere in the world can trade at any time...
...stock market, they fear, he might unintentionally create a speculative mentality like that of the 1920s. But as the head of two of the biggest brokerages, Perot can hardly be ignored, and his evangelizing has converted at least some veteran financial men. As one old-line duPont Glore Forgan executive has confessed, "I haven't been so excited since I went on my first date...
...expansion of the whole economy. Profits were up in 27 of the 32 industries in Citi-Bank's study, and the list of companies that have reported an after-tax earnings gain of 20% or more in the second quarter is impressive-General Motors, Ford, IBM, Sperry Rand, DuPont, Union Carbide, Caterpillar Tractor, International Paper, B F. Goodrich, Eastman Kodak and Zenith. Small firms in the same fields are often doing even better, according to Michael K. Evans, president of Philadelphia's Chase Econometrics, "'because they were hurt worse in the recession and so are starting from...