Word: lufkin
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Dates: during 1980-1989
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...holiday season has been helping to boost investors' spirits. "There has been a rally of sorts every year at this time since World War II," notes LeFevre. Optimistic observers like Eric Miller, chief investment officer for Donaldson, Lufkin & Jenrette, are now predicting that the current upswing will push the Dow average far above 1300 and even past 1400 by the middle of the coming year. But the market's normal orneriness provides a note of warning. In 1966, the Dow hit 995. It did not close at over 1000 for nearly seven years...
Each time he was almost out of business, an angel appeared. In 1980 a local gynecologist persuaded several fellow doctors to pitch in $500,000. Since then, a $5 million infusion by a group of investors, including Golder Thoma & Co., a Chicago venture-capital firm, and Donaldson, Lufkin & Jenrette's aptly named Sprout Investment Group, has enabled Vorhauer to hire 40 employees. V.L.I. will soon move into a 50,000-sq.-ft. manufacturing facility in nearby Irvine. Vorhauer expects to hire 80 more workers by year's end as production gears up. The United Kingdom and four other...
...Gannett team worked behind windows coated with reflective paper to discourage the curious. By April 1981 the plan had progressed to prototype issues, which were mailed to public figures, journalists and financial analysts for comment. Some of the reaction was pungent. Publisher Joe Murray of the Pulitzer-prizewinning Lufkin, Texas, News returned his dummy issue after scrawling across the top, "Forget the whole thing...
Some Wall Streeters speculate that in addition to seeking new American supplies of crude, Mobil is trying to find the limits of the Reagan Administration's antitrust policy. Says Philip Dodge, an oil analyst for Donaldson, Lufkin & Jenrette: "Mobil is really testing how far it can go in bidding for another oil company. In going after Conoco last summer, it never became clear whether there would be any antitrust objections...
...American Express, the Shearson deal marked the end of a long, and sometimes embarrassing, search for a major acquisition. In 1972 American Express made a disastrous foray into the securities business by buying a 25% interest in Donaldson, Lufkin Jenrette, now Wall Street's 18th largest firm, for $29.3 million. Three years later, American Express gave up that investment for only $6.4 million. Then in 1979 American Express attempted an unfriendly takeover of McGraw-Hill, but the board of directors of the publishing firm unanimously rejected...