Word: moneymen
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...families." Almost all Indian business and industrial houses today are family-run-which encourages them to become monopolies and inbred cartels but deprives them of truly professional management at the top level. Indira realizes, however, that any serious tampering with property rights could antagonize the moderates and the moneymen who are the source of her party's strength, despite its socialist platform. Mrs. Gandhi is also aware that she must find ways to spur public and private investing...
...from all-out mergers with banks of another country. But mergers in other industries have already proved projectable, and all over Europe joint ventures are the order of the day. Even parking tickets get cooperative service-one issued in Holland can be presented for collection by police in Germany. Moneymen are concluding that for them, too, partnership...
Even the most inventive ex-moneymen can get nowhere without capital. Gerald Benowitz left Merrill Lynch in Atlanta when volume started slipping last year. Only when he had scraped together $250,000 from 20 private investors could he and his four partners launch Creative Child Care, a night-and-day care center for affluent children. "You can call it Head Start for the Rich," remarks Benowitz. His new center will open this week in suburban Atlanta, with nurses on duty around the clock. The center is aimed at clubwomen who might want to drop off Junior a few mornings...
...offices, 50,000 employees and deposits of $12.3 billion, making it the world's fifth-ranking bank establishment (after the Bank of America, First National City, Chase Manhattan and Britain's Barclays Bank Ltd.). The agreement is the first of its kind in the Common Market, and moneymen regard it as an important trend setter. U.S. banks have won much business in the Market, and the entry of Britain would open the Continent wider to the City of London's powerful banks. Europeans see multinational combines as the logical way to compete. Leaders of Lyonnais and Commerzbank...
Clubby and conservative, Swiss bankers have been increasingly irked by the aggressive marketing methods of U.S. banks that have flocked to their country and heavily tapped the local money market. Thus Swiss moneymen reacted with scarcely concealed delight when the Basel subsidiary of the United California Bank suspended operations, a victim of the costliest banking scandal in Swiss history. The losses of the U.S. affiliate so far have been estimated at $40 million. But as state-appointed auditors worked to unravel the tangled affair last week, there was every possibility that the deficit could grow even larger...