Word: marketing
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
Prosperity reached almost embarrassing proportions for Wall Street during the bull markets of the past couple of years. As stock prices climbed and trading volume rose to unprecedented heights, brokerage commissions swelled to $5 billion a year, and six-figure in comes became commonplace among customers' men. Now the securities busi ness is mired in a painful recession. Caught between sharply rising costs and a sluggish volume of trading in the ner vous market, brokerage houses have closed scores of branch offices, laid off hundreds of workers and rushed into mergers to fight a flood...
...Doremus and Carlisle & Jacquelin said that their decision was forced by in creasing costs plus dwindling odd-lot trading, which now amounts to less than 10.7% of the Big Board's volume. Other merger plans have undoubtedly been hastened by the tendency of small investors in a declining market to with draw from direct trading and turn their business over to mutual funds and other professional investment management services (see following story). A great deal of Wall Street's retrenching involves firms that rely on retail brokerage for much of their revenue. So far this year, Manhattan-based...
...jams, 18 member firms are operating under exchange-imposed restrictions. These variously mean that the firms cannot accept new accounts, cannot advertise, or must limit the number of trades per day. Since last December, the exchange has also required brokers to set aside capital to cover 10% of the market value of stock snagged in failures to deliver that are 40 to 49 days behind schedule and the penalty rises to 30% on "fails" that go 60 days or more uncorrected. Some firms have been forced to borrow to satisfy this requirement, and high interest charges eat further into profits...
...many years, U.S. Trust had a staid image because its investments rose less rapidly than those of small mutual funds, whose young managers hopped from fad to fad, making quick gains on chicken franchises or computer-leasing companies. These smaller investment funds, which rose rapidly in the highly speculative markets of 1967 and 1968, have fallen sharply in the recent market slide. This year, U.S. Trust has done much better than most of the newer, smaller investment institutions. It has-as it usually does-outperformed the market averages by about...
Golfing Decision. U.S. Trust's basic investment policies are set by a three-man leadership: Chairman Hoyt Ammidon, Vice Chairman Berkeley Johnson and President Charles Buck. The decision as to whether or not to invest is based about 20% on a company's product and ability to market it, and 80% on the bankers' personal assessment of the company's president and top management. Vice Chairman Johnson believes that "you can learn quite a bit about the ethics and personality of the man you are dealing with by playing golf or going shooting with...