Word: trader
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...started as a mistake, by all signs an honest one, but it grew into a Wall Street disaster. A 36-year-old senior bond trader at Merrill Lynch apparently lost his cool last month when rising interest rates started rapidly eroding the value of his $900 million portfolio. Instead of liquidating the securities and taking the loss, as most of his colleagues on Wall Street were doing, the Merrill Lynch trader seemingly gambled on a go-for-broke strategy. Without his employer's permission, he plunged in deeper, buying up $800 million more of the securities in the hope that...
Trade divides the presidential contenders in both parties in ways that confound the traditional left-right political spectrum. Among Republicans, New York Congressman Jack Kemp is an ardent free trader, Vice President George Bush loyally supports the President's advocacy of limited sanctions against Japan, and Senate Minority Leader Robert Dole is, to put it bluntly, all over the map. The Kansas Senator has at various points supported both Senate Democrats and the Administration on trade while also aggressively promoting subsidies for agricultural exports. Trade is an issue for Republicans, but among Democrats it could emerge as the salient issue...
...like Andrea Sharp, a Los Angeles waitress. "I'm not sure what it is, but every time I eat them, I think of Hawaii," she says. Maui has inspired knockoffs, and some of the imitations, such as the parchment-crisp Laura Scudder's, made in California, and the rustic Trader Joe's Habeas Crispus, from Oregon, beat out the original...
...identity of the financial community's latest fallen wizard, Boyd Jefferies, may have come as less than a rude shock, since the prominent Los Angeles stock trader was known to have dealt heavily with Arbitrager Ivan Boesky. But on Wall Street, where scandal is becoming almost routine, Jefferies' announcement last week that he would plead guilty to two criminal charges created a whole new sense of dread. For Jefferies was not charged with insider trading, as a dozen others were, but with other rule-bending practices that have become commonly tolerated. The case against Jefferies, based partly on tips provided...
...torrent of technology is turning the plain old telephone and its push- + button heirs into sophisticated electronic instruments. Among other things, they block out unwanted calls and listen to voice commands. -- Fujitsu drops its bid for Fairchild. -- Wall Street' s spreading scandal fells Stock Trader Boyd Jefferies. -- Independent filmmakers steal the scene in Hollywood...