Word: salesmen
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When an investor wants to buy shares in a typical mutual fund, he goes to one of the fund's own salesmen or to a broker who has been designated by the fund as its agent. For his services, which may include counseling but often consist of no more than filling out a form and mailing it in to the fund, the salesman or broker-agent is rewarded with the sweetest commission in the securities industry: an average of 8% to 8.5% of the total purchase price, compared with an average of 1.45% on trades in corporate stocks such...
...because they were not properly registered. Last month Ohio commerce regulators won a temporary restraining order prohibiting him from selling securities, from encouraging investors not to redeem their holdings or from disposing of cathedral assets. They accused the cathedral of "unconscionable sales methods" in marketing securities, claiming that its salesmen failed to tell prospective investors that the church is in financial trouble. In addition, the U.S. Securities and Exchange Commission has asked a federal court to appoint a receiver to take over all of the cathedral's assets. According to SEC lawyers, the church has spent $7.3 million more...
...seat cathedral. Finding that TV time to spread the Word was expensive, he followed the example of other religious and educational institutions and began issuing bonds and promissory notes. But he did not sell the securities through licensed brokers. He formed his own traveling squad of 20 salesmen, many of them ministers in the cathedral, who have since raised $ 12 million from small investors in 47 states...
...more people than ever will be heading for the hills. Michigan auto executives and plant workers will politely jostle one another for spots in the half-hour lift lines at some of that state's 76 ski areas. In the South, where there are 15 ski resorts, young salesmen and account executives meet Atlanta college girls brushing up their parallel turns before heading for Aspen on semester break. Meanwhile, real estate developers in North Carolina are using ski hills as come-ons to sell lots for second homes. And near Milwaukee, executives of Continental Can Co. have proposed that...
...other country quite matches the U.S. in the razzle-dazzle, freewheeling preaching of its religious pitchmen, and perhaps none of those preacher-salesmen is more bizarre than the Rev. Frederick J. Eikerenkoetter II, better known as "Reverend Ike." One trait especially distinguishes Ike from the others: his clear-eyed, unabashed love of money and other things material. TIME Correspondent Timothy Tyler heard that note loud and clear as he recently followed Reverend Ike from Los Angeles to Houston. Tyler's report...