Word: fenner
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Sign of Resistance. Elsewhere, however, there were growing signs of resistance to the Arab muscle. In Manhattan, Merrill Lynch, Pierce, Fenner & Smith refused to capitulate to demands by the Kuwait International Investment Co. to drop the U.S. branch of Lazard Frères as a participant in two lending syndicates that will raise $50 million for the Mexican government and $25 million for Volvo. Merrill Lynch Chairman Donald Regan was not about to exclude Lazard or slight its chairman, 76-year-old Andre Meyer. The Kuwaitis then dropped out of the deals. Echoing the typical sentiments among investment bankers, Paul...
Died. Edward Allen Pierce, 100, last surviving founder of the nation's largest stockbrokerage house, Merrill Lynch, Pierce, Fenner & Smith; in Manhattan. In 1901 Pierce left his job as manager of a lumber business for a $20-a-week clerkship with the prestigious brokerage house of A.A. Housman on Wall Street. Twenty-six years later, the company's name became E.A. Pierce & Co. In 1940 E.A. Pierce & Co. merged with the investment banking firm Merrill Lynch; a year later Fenner joined, followed by Smith in 1958. Pierce continued actively to govern his empire until well into...
...there," admits Graham Nash, 32. According to Stephen Stills, 29, tumescent egos were responsible. "None of us were willing to give up our identities," he says. "We could have called ourselves the Eternal Spinach, but we used our names instead -it made us the Merrill Lynch, Pierce, Fenner & Smith of rock." Crosby once belonged to the Byrds, Nash was a member of the Hollies, and Stills and Young came from the Buffalo Springfield. Each man in C. S. N. & Y. was a skilled guitarist and singer-songwriter capable of rilling an entire album with original tunes. At one point Neil...
...MARY FENNER...
...most aggressive offer came from Merrill Lynch, Pierce, Fenner & Smith, the industry giant. It reduced its rates by 16% to 25% below fixed levels on some orders of less than $2,000. A $100 buy or sell order, which would cost an investor $7.04 under the old system, now costs $4.31; a $2,000 transaction that formerly entailed a $39.60 commission can be effected for $32.51. But for those who avail themselves of these cheaper rates. Merrill Lynch imposes stiff requirements designed to cut its own costs. Stock certificates must be held by the firm to avoid the paper work...