Word: walling
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Dates: during 1950-1959
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...plumped for a 17-nation European Free Trade Area to supplement the Common Market. The F.T.A. would permit free exchange of industrial products between member nations, but, unlike the Common Market, it did not call for ultimate establishment of uniform wage and tax levels or for a common tariff wall against outsiders...
...volume increases, American Motors' profits are soaring far higher than the record $4.65 per share posted in fiscal '58. Romney expects to net a minimum of $17.5 million in the first six months, compared to $7.329,631 in the same period a year ago. Wall Streeters are just as optimistic; they figure that if Romney can keep up the hot pace and sell 325,000 cars in the whole year, American Motors will net upwards of $14 a share before taxes. Rambler is not only doing well in the U.S.; it is also expanding its share...
...Wall Streeter whose advice is most often sought by U.S. businessmen is Sidney J. Weinberg, 67, who now has the oracle's seat once occupied by Bernard Baruch. As a senior partner of Goldman, Sachs & Co., one of The Street's top ten banking houses, Weinberg has won an enviable reputation as an underwriter skilled at judging the new issue market just right. His most recent success was selling $350 million of Sears, Roebuck debentures-history's biggest debt offering-in a bond market so soggy that some underwriters doubted the issue could be marketed...
...stock market. Last May he advised one and all to buy; last week he said that the market was too high: "Some stocks are selling at 50 and 60 times earnings. You just can't do that.'' Weinberg's reputation extends far beyond Wall Street. He has served as a director of so many companies (General Electric, General Foods, Continental Can, Ford, B. F. Goodrich) that he thumbs through a notebook to see on which of 35 boards he still serves. Weinberg has a third field of distinction: adviser to governments. He achieved such success...
WEINBERG'S slum background contrasts so sharply with that of the traditional Ivy League Wall Streeter that he uses it as an asset, plays up his Brooklyn background ("I'm just a dumb guy from P.S. 13"). One of eleven children of a wholesale liquor dealer, he never got farther than P.S. 13, started with Goldman. Sachs as a $3-a-week porter's assistant. After a World War I stint in the Navy, he became a securities trader, a Goldman, Sachs partner in 1927, helped to run investment trusts, including Goldman, Sachs Trading Corp., which proved...