Word: kleiner
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...DOUGLAS KLEINER...
Naturally, such easy profit has attracted competitors. Among them are two former executives of the floundering brokerage house of Kleiner, Bell. The pair, Robert Brandt, 43, and Barry Zwick, 35, formed a fourth-market firm in Los Angeles in August. Operating in much the same way as Tomaso, they made four deals in their first month, enough to bring a small profit. "Everyone thinks he is the only one trading in the fourth market," says Brandt. "Soon people will find out everybody is doing...
...McDonnell & Co.; Amott, Baker & Co.; Gregory & Sons; Baerwald & DeBoer; Dempsey-Tegeler & Co.; Meyerson & Co.; Fusz-Schmelzle & Co.; Blair & Co.; Orvis Brothers & Co.; and Kleiner, Bell...
...they have stopped or may soon be forced to stop doing business with the public. In addition to Dempsey-Tegeler, four are formally being liquidated: McDonnell & Co., Gregory & Sons, Baerwald & Deboer, and Amott, Baker & Co. The other five?Meyerson & Co., Fusz-Schmelzle & Co., Blair & Co., Orvis Bros. & Co., and Kleiner, Bell & Co. ?are headed for liquidation because of capital problems. A couple of the biggest firms in the business, while not in danger of extinction, are widely reported to be losing roughly $1,000,000 a month...
...disconcerting. Bache & Co., the second largest brokerage house, announced an $8.7 million pretax loss for last year. Goodbody & Co. reportedly had a $1.5 million operating loss in the first two months of this year. Hayden, Stone took a $17.5 million loan from a group of investors in Oklahoma. And Kleiner, Bell & Co. announced that it was getting out of the brokerage business, but will continue as an investment banker...