Word: herds
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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...
...wife, whom he hires to smooth his way in New York, take off with his new car and a year's advance pay. Norman buys a mountainside in New Mexico, only to have a soulful Indian talk him into paying dearly for another thousand acres and a herd of Angora goats for the production of "Capricorn semisoft cheese," which goes sour before it can be sold. He is finally carted off to a Texas retreat for the mildly deranged. He might have written his poems in peace here, but mama, newly widowed, reappears to lead...
...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...