Word: lynched
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Dates: during 1980-1989
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...dales of America. Jones' energetic corps of 1,273 brokers, who almost never set foot in towns with more than 25,000 people, has enjoyed solid success in outposts from Spearfish, S. Dak., to Broken Bow, Neb., that such big-time competitors as Dean Witter Reynolds and Merrill Lynch have virtually ignored. Based in the St. Louis suburb of Maryland Heights, Jones ranks just 43rd among brokerage firms in total capital ($82.5 million), but no investment company is represented in more places. Jones has 1,227 offices in 37 states, covering most of the country except the Northeast. Second-ranking...
...book tells of troubles in the E.F. Hutton neighborhood: slumping lemonade sales and rough times with kids like Merrill Lynch. Presenting a "vision of what we can be," the book urges employees to do "much more with much less." But the attempt at spirit lifting may backfire. "Disgusting," said an executive. "We would prefer to think that management could communicate with us in an adult fashion...
...singing with the radio. Last year he stopped the music and began studying to become a stockbroker. "I made tapes of the texts and took notes while I listened on the drive to and from work," explains Jenson, who is now a broker in the Westwood office of Merrill Lynch. "It's amazing that I didn't hit anyone." Using the rear-view mirror, many men shave with electric razors and women often apply their makeup. Some people even dress behind the wheel. Janice Conover, a Hampton Jitney Co. bus driver who regularly plies the Long Island Expressway (popularly known...
BANKS. Until deregulation gave them relief in 1980, banks and thrift institutions were rapidly losing business to competitors ranging from Sears to Merrill Lynch, whose money-market funds could legally offer much higher yields than the 5 1/4% maximum savings-account rate. But the Depository Institutions Deregulation and Monetary Control Act gradually abolished limits on interest, enabling banks and thrifts to offer lucrative accounts like Super NOW checking. The new law was a boon for savers, since it touched off interest- rate wars among financial institutions competing for consumer deposits...
More than underlining his differences with Volcker, however, Greenspan must stress his similarity in one major respect: unwillingness to be manipulated for partisan political purposes. Says John Heimann, vice chairman of Merrill Lynch Capital Markets and a former U.S. Comptroller of the Currency: "The most important thing he has to do is give the markets convincing evidence that he is free of influence from the White House." Without that evidence, foreign investment in U.S. securities, a crucial factor in underwriting the budget deficit, might well dry up. That in turn would undoubtedly lead to a vicious spiral of increased interest...