Word: ince
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Dates: during 1960-1969
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WALL Street for years has escaped what it dreads most: a serious attack on its integrity. Last week, when just such a blow fell, it landed where it really hurt. The staff of the Securities and Exchange Commission accused Merrill Lynch, Pierce, Fenner & Smith, Inc., the world's largest and best-known brokerage house, of practicing fraud and deceit by misusing inside information. Even though Merrill Lynch immediately protested its innocence, the charges by their very nature can only tarnish Wall Street's zealously nurtured image. That image is of a market where 24 million investors can trade...
...rival Fairchild Camera & Instrument, he took seven colleagues along with him. Besides suffering a prompt drop in the price of its stock, Motorola began worrying that the mass exodus would mean a loss of trade secrets. Last week it acted. Filing suit in U.S. District Court in Phoenix, Motorola Inc. asked damages against Hogan, his associates and Fairchild, also sought to enjoin Fairchild from hiring away any more...
...other cases, a fresh marketing approach can rejuvenate a declining old name. Stephen F. Hinchliffe Jr. and Merle H. Banta, two young (35) former management consultants, set up Los Angeles' Leisure Group, Inc. in 1964 on the notion that they could do better than the "inventors, hobbyists and amateurs" in the business. They have. Among the seven outfits picked up by Leisure (1967 sales: $10 million) is Philadelphia's S. L. Allen & Co., whose famed Flexible Flyer sled, introduced in 1889, could claim nearly 100% of the market in the early 1900s. Leisure bought Allen, which had been...
Among the holdings they control from their law offices are the Marmon Group Inc., a diverse collection of businesses that last year had sales of $79 million, and the Colson Corp. ($12 million), a maker of food carts and other equipment. They also own a myriad of smaller companies in the U.S., Canada, Britain and Australia involved in mining and agricultural equipment, cement and fertilizer. Then there are 400,000 acres of timber and farmland in the South and Northwest, plus housing developments and shopping centers in Chicago, Las Vegas and Puerto Rico...
Under the terms of the get-together, Susskind and his partners will receive an undisclosed amount of Norton Si mon Inc. stock, run Talent Associates for at least five years...