Word: lynch
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...still mostly traditional banking," says FORTUNE writer Nelson Schwartz. "There's not a lot of overlap, so there shouldn't be a lot of layoffs." Investors are voting with their wallets: Citicorp's stock price was up 34 points (not a typo) after midday; Travelers jumped 10. Merrill Lynch, Lehman, DLJ? All up, having suddenly become attractive as future acquisitions (or aquisitors) in the light of the marriage...
Feaster was already offered a position as an equities analyst with Merrill Lynch, but the company has informed her that the job will still be available after she completes her basketball career, should she choose to follow that path. Feaster is expected to be a high draft pick in either the WNBA or the ABL--the latter has already informed Feaster that she need not attend its Combine...
...inflation and Treasury bonds over a long period. But don't bank on 25% or 30% a year when the long-term market average is only 11%. And buying Wal-Mart just because the parking lot is full has become a quaint cliche. It might have worked for Peter Lynch in the '80s. But the Beardstown batch tried it in the '90s and discovered yet another recipe--the one for crow...
...reverse such trends, banks acquired securities brokers at a record pace last year. McColl shelled out $1.2 billion for Montgomery Securities of San Francisco. "Today we do almost everything Merrill Lynch does," he says. "We compete with them in investment banking and the brokerage business." Would he like to own Merrill? "We could," he replies, "but it's not for sale, and we are not interested." Then he adds with an alligator grin, "But nothing is forever...
...increased 178%, and the industry last year posted record pretax profits of $12.2 billion. More work. More profit. Relatively few people. Sound familiar? Wall Street hadn't been totally left out. Its firms have been merging practically forever, but seldom on such an extensive scale, where even giant Merrill Lynch might be bait for, say, Chase Manhattan. In a bull market, and with consolidation running wild on the Street, brokerages are good stocks...