Word: lynch
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...decades, few challenged the wisdom of separating risky underwriting activities from federally insured bank savings deposits. But by the 1970s the financial world had become more muddled. Merrill Lynch, for example, began to offer money-market accounts with a check-writing feature. As the lines between banks and brokers blurred, Glass-Steagall came under repeated attack, starting in the 1980s. "I spent a lot of time lobbying Congress to convince them that we needed to look beyond the parochial interests of banks, brokerages, insurance companies and mutual funds," says former AmEx boss Robinson, now investing in tech start...
...Christmas season fast approaches, dot.coms flush with cash from their stock-market offerings, are pumping money into old media and stretching the creative limits of Madison Avenue. "If you don't gain market share now, you're never going to get it," says analyst Henry Blodgett of Merrill Lynch. By the end of this year, e-commerce companies will shell out $2.5 billion on traditional advertising, according to PaineWebber. That may be just a fraction of the $80 billion U.S. ad market, but it's four times what Net firms spent in 1998. For the moment, dot.coms are actually spending...
...squares with another ICI study several weeks ago that shows that 77% of stock-fund holders buy and sell through some sort of advice filter. Individuals now have enough wealth at stake so that it seems they are less inclined to go it alone. That may mean Merrill Lynch, down 30% from its high last April, is a better bargain than E-Trade, down 68%. Merrill is in the advice biz, which may have value after all, especially if the market continues to churn...
DIED. JACK LYNCH, 82, former Irish Prime Minister who chose not to send troops to protect Catholics in Northern Ireland as violence erupted in 1969; in Dublin. He began the tension easing between north and south that led to 1998's peace agreement...
Alvin Straight (Richard Farnsworth), hero of David Lynch's The Straight Story, brings out the best in people--by talking or listening to them or just by the example of his tortoise-like quest. He is driving his John Deere lawnmower 350 miles to see his estranged brother. Alvin turns out to be your basic Lynch hero: a Kyle Maclachlan type, as average as apple pie, who follows his obsessions to heaven or hell. The supporting cast is normal too--and thus vastly weird, because Lynch presents them, as he did the sickos of Blue Velvet, without comment or condescension...