Word: flushers
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...suddenly flush clerks and secretaries, not to mention the even flusher bankers, at Wall Street powerhouse Goldman Sachs Group won't be convinced. But their company's smashing $3.7 billion initial public stock offering last week--spreading wealth up and down the ladder--was less noteworthy than a handful of Internet IPOs that flopped. Say what? Yes, flopped. Shares of online map company Mapquest and online advertising company Flycast failed to double in a day--a stiff bogey but one that Internet companies have been hitting all year. Meanwhile, online real estate company Comps.com actually fell...
Evidence of bureaucratic bulge is larded throughout the entrenched establishment that serves the five boroughs. City comptroller Elizabeth Holtzman notes that 50,000 jobs were added in the '80s, "when times were flusher." According to the Census Bureau, the city has 575 employees per 10,000 residents, in contrast to 344 in San Francisco and 146 in Chicago. (Only Washington, with 788, is more bloated...
...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...
Mistake No. 2 came two years later. Returning from Oregon where he had coached football, he invested his new savings in a silent toilet-flusher. The flusher turned out to be noisy...