Word: millions
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Dates: during 1960-1969
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According to the SEC staff, Merrill Lynch learned of Douglas' financial troubles while underwriting a $75 million offering of the company's convertible debentures. On June 7, 1966, the planemaker reported profits of 85? a share for the five months that ended the previous April 30. But by then Douglas, now a part of the McDonnell Douglas Corp., was running into production snags and unexpected cost increases. In its underwriter's role, said the SEC, Merrill Lynch discovered that the aircraft company's earnings outlook had worsened, and passed that fact on to some...
...well-justified boast that it brought Wall Street to Main Street, the company points to its 1,400,000 individual customers, nearly one-third more than any other stockbroker has. Their trading, along with that of 3,000 institutional customers, last year helped Merrill Lynch to gross $369 million and net a record $54.6 million...
...charges from $11,500 to $18,625, depending on the day of the week and the time of the day. Similarly, black-and-white television prices range from $8,350 to $13,100 an hour. The returns, of course, are high. On a total joint investment of approximately $103 million as of July 31, members distributed some $33 million in profits among themselves. Communications Satellite Corp. (better known as Comsat), representing the U.S., realized a net income of more than $3,300,000 during the first half of 1968, up 58% from a year earlier...
...Association championships in the past ten years, the Boston Celtics are naturally the prime target of any team in the league. Now the Celtics have finally been taken-but not by an N.B.A. rival. The taker is P. Ballantine & Sons, the big Newark-based brewer (estimated 1967 sales: $90 million). Ballantine paid a Manhattan real estate investment company some $4,000,000 for the team...
...company that makes Daisy BB guns, by Cleveland's "Automatic" Sprinkler Corp. of Rawlings Sporting Goods, by Ling-Temco-Vought of Wilson Sporting Goods, and by General Mills of game-making Parker Bros. Last month Fuqua Industries, a fast-growing conglomerate whose sales are above $60 million, reached far beyond its landlocked Atlanta base to buy Pacemaker Corp., a New Jersey boatbuilder with estimated sales of $25 million a year...