Word: traders
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Dates: during 1980-1989
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From this position of overwhelming national strength, Merrill Lynch has helped change the ways that Americans spend, save and invest their money. No longer content to be merely the top trader in stocks and bonds, the firm is gearing up to challenge such venerable Main Street denizens as bankers, real estate brokers and insurance agents. Says Chairman Roger E. Birk: "We want to service as much of a person's financial needs...
They've been bargaining for centuries. Of course, a country boy from Alabama can be a mighty good trader...
...town of Terlingua, Texas, Abrigo, a 43-year-old Anthony Quinn lookalike, is one of a network of entrepreneurs along the Mexican border who are engaged in the lucrative if often shadowy business of buying and selling cactus plants wholesale. In summer, when demand hits its peak, a cactus trader may ship thousands of the plants in a week. They wind up in plastic pots at supermarkets or in the homes and gardens of the well-to-do, from Nagasaki to New York to Nuremberg. The trouble is that many of the plants are taken and transported illegally. Says California...
...Japanese auto question has become the sharpest economic dilemma for the young Administration. A committed free trader, Reagan has also promised trade relief to auto workers. Said he in a campaign stop in Detroit last September: "I think the Government has a role to convince the Japanese that the deluge of their cars into the U.S. must be slowed while our industry gets on its feet." But hin dering the availability of Japanese cars in the U.S. could result in substantially higher auto prices for American consumers and hurt the Administration's battle against inflation. The outcome...
...issue is a thorny one for Reagan. Although philosophically a free trader, the President, during a campaign swing through Michigan last year, vowed to help the auto industry. Aides indicated at the time that he favored a voluntary agreement with the Japanese to reduce imports. After the election, Reagan asked Transportation Secretary Drew Lewis to review a study of the auto industry that had been completed by the Carter Administration. Results of the review will be submitted to the President within two weeks...