Word: lufkin
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...been achieved, though, what does it really mean? In direct terms, not much for the general economy. A rising market tends to make people feel richer, and thus the publicity attending the breaching of 1000 might possibly prompt some additional consumer buying. John W. Corcoran, chief economist of Donaldson, Lufkin & Jenrette, a Manhattan investment house, also notes that higher stock prices make it easier for businessmen to raise money, by selling new shares or borrowing. At most, however, these are indirect effects...
...Though the new rule is less stringent than some Wall Streeters had expected, it still will cut brokers' revenues by practically forcing them to reduce commissions on more trades executed for hard-bargaining mutual funds and other big investors. Richard Jenrette, president of Manhattan's Donaldson, Lufkin & Jenrette, predicts that the new rule will "accelerate the trend toward smaller houses closing down or merging with bigger firms...
...also shifting to new funds that specialize in bond trading. A final factor in the stock slide has been a rush by corporations to sell new stock. New issues in September alone totaled $1.5 billion, almost four times the volume in September 1970. Richard Jenrette, president of Donaldson, Lufkin and Jenrette, thinks that the stampede reflects mostly the lasting terror of being caught short of money that the Penn Central bankruptcy stirred in corporate treasurers. "A lot of the new financing does not seem necessary," he says. The avalanche of new issues at a time when the Federal Reserve...
...everything turned out to his satisfaction. The conglomerate negotiations broke down, and CRM President John Veronis and Board Chairman Nicolas Charney quit their positions. With financial help from Louis Marx Jr., son of the toy magnate, and Dan W. Lufkin, a Wall Street broker, they bought the Norton Simon package as individuals for an estimated $5,000,000. That convinced Cousins he could get along with his new owners. "I rather like this display of gizzard," he said happily. "I can't turn away from anyone who believes in the Saturday Review as much as that...
...Lufkin, who recently formed an environmental consulting firm. empha sized it is possible for industry to combine a concern for social problems with a beliet in the profit system...