Word: schwab
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Dates: during 1980-1989
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...Charles Schwab, it was like a long battle to regain custody of a child. For more than a year he has tried to buy back the highly profitable discount- brokerage firm that he founded in 1971 and sold to BankAmerica for $57 million in 1983. Since then he has continued to run the brokerage, but he has felt shackled by the federal restrictions that come with being part of a bank- holding company...
Other clinics report lower birth rates among those counseled or treated. And a survey of two inner-city schools, released this year by a team headed by Laurie Schwab Zabin of Johns Hopkins' School of Public Health, reported that sexually inactive high school students who used the clinic postponed their first sexual encounter about seven months, to age 16.2 instead of the 15.7 that otherwise was typical. Zabin's study is one of the most frequently cited by activists who support sex education and school clinics. In the first two- plus years of the study, the pregnancy rate fell...
...other businesses as well. After four profitable years, the automaker has amassed a cash hoard of $8 billion, more than enough to finance research and development for several years plus another major acquisition. Last week the stock market buzzed with rumors that Ford was planning to buy the Charles Schwab discount brokerage firm or Lockheed, the aerospace company...
...beleaguered San Francisco company realizes that its shareholders will scream foul unless it does something to rescue its foundering finances (more than $1 billion in losses in the past six quarters). To raise cash, BankAmerica has decided to consider selling one of its crown jewels, the highly profitable Charles Schwab discount-brokerage subsidiary. The most probable buyer is none other than Charles Schwab, the company's founder, who sold out to BankAmerica in 1983 for $52 million but remained head of the brokerage unit. To buy it back, banking analysts estimate, he will have to pay between $260 million...
...nothing else, Schwab's resignation focuses renewed attention on BankAmerica's troubles, which can hardly give much comfort to Armacost. Some banking analysts are now predicting a major financial restructuring at the ailing giant, perhaps as early as Thanksgiving...