Word: retailing
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Dates: during 1990-1999
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Starting in the spring of 1995, Clinton staffers and the Democratic National Committee turned the sale of access into a massive retail operation. Depending on one's contribution to Clinton's re-election effort, donors could expect various White House prize packages in return...
...husband agrees. "The goddamn fools [who opposed Starbucks] are afraid of competition, and in the retail business we used to say, 'If you can't stand the heat in the kitchen, get the hell out," says Sandy Cahaly...
...playing with dolls? Apparently not. "[Lead singer] Gene Simmons contacted us," says Bob LoMonaco, senior vice president of sales for Todd McFarlane, which makes the Kiss dolls. "This is the first celebrity doll we've made, but there has been a lot of interest." Each Kiss member will retail for about $7.99. Hasbro's General Eisenhower, as befits his station, will be a little pricier, at $49.99. And if you prefer your dolls-in-uniform to come equipped with a riding crop, Hasbro also makes a General Patton...
...suddenly the retail business looks good to Morgan, a stunning epiphany. The firm posted a record profit of more than $1 billion last year. Clearly, it's in no trouble. Its newfound interest in little people is unmistakable evidence that individuals wield more clout on Wall Street than ever. There may not be any immediate benefits, but long-term this is very good news. Capital and clout go hand in hand, and the popularity of mutual funds and 401(k)s means regular Joes and Janes are amassing pools of money faster than institutions. Morgan sees that and is doing...
...combined firm, didn't adopt the stuff-it 'tude for us. Maybe Purcell figures that the price was right and that with commercial banks becoming big players in the brokerage business, he had to act. Or maybe he's hedging his bets. Plenty of people believe traditional retail brokerage is headed for extinction. Plenty also think this merger won't work. Mack denies it, but he's fuming over Purcell's getting the top job. And I'd like to be there the first time a working-stiff broker from Dean Witter tells a millionaire banker from Morgan...