Word: flusher
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Dates: during 1970-1979
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...joining Tompkins in a visit to a local OTB parlor. They emerged unscathed, simply by not placing a bet. Demarest was not always so steel-willed. As a member of TIME'S London bureau in the late 1950s, Demarest closely followed the fortunes of a horse named Four Flusher (gambling argot for cheater), which was jointly owned by a few bureau staffers. "Out of loyalty," Demarest says, "I bet on the horse when I might not have otherwise. And I rarely...
...flusher times, Perot's plan might have worked. But the stock market has been wobbling downward ever since the Dow Jones hit its alltime high of 1051.7 in January 1973. The advent of negotiated commission rates for large transactions in 1971 has cut into the profits of many firms. New York Stock Exchange member firms collectively lost some $80 million last year after turning a profit of more than $787 million in 1972. Among the biggest losers was Walston, which reportedly dropped $22.9 million between July and November, the first five months of Perot's stewardship. Meanwhile, duPont...