Word: herded
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Dates: during 1960-1969
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...blocks from Wall) contain $13 billion in negotiable securities. In all its transactions last year, the big brokerage house grossed $228 million for a net profit of $30.8 million. More than ever, it fits the name that Wall Streeters in awe and envy bestowed long ago: "The Thundering Herd...
...head of the herd obviously holds huge responsibility?to his company, its clients, the nation, and for that matter, the world. It was therefore all the more remarkable that Merrill Lynch almost routinely underwent a major leadership change just last month. Michael McCarthy, 63, who had been chairman since 1961, moved up to executive committee chairman. President George J. Leness, 63, became chairman. With only two years left before mandatory retirement, McCarthy and Leness are really beginning to phase themselves out; they plan to spend most of their time pondering about Goliath's long-range future...
...future, after all, is what the stock market is really about. And in their offices in the financial canyon of lower Manhattan, James Thomson and his Thundering Herd constantly ponder the possibilities of tomorrow, next month, next year and next decade. In their own expansion plans, Thomson & Co. are betting heavily on a bright market future. "The biggest problem facing Merrill Lynch right now," says Thomson, "is to be in a position to handle bigger volume when it comes. And we believe it is coming...
...where he graduated with a B average in history. He earned pocket money by working as a parking-lot attendant and tour guide at the Miller High Life brewery. At school his friends called him "Paddy" or "Nuge." One Marquette professor remembers him as "independent, not one of the herd, a take-charge...
...engulfed. Dozens of fires flickered eerily over the sweating mob. Soon parts of Hough were plunged into darkness as electric power lines and street lights were shorted by flames. Negro snipers manned the rooftops and began shooting at random in the dark. Police tried desperately to herd people off the streets to protect them from crossfire between snipers and police. One young Negro woman, Mrs. Joyce Arnett, was searching frantically for her children when policemen pushed her into an apartment building. Hysterical, she ran to a window and screamed into the chaos below: "My God, I want to go home...