Word: walling
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Dates: during 1980-1989
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...them are solo operations, and one editor describes them unabashedly as the "alternative press" of the era. The wished-for kinship is not with some Age of Aquarius tabloid, of course, but with pamphleteers like Thomas Paine and Alexander Hamilton. The newsletter gurus see themselves as disabusers of Wall Street myth, as missionaries of economic truth. Since readers can lose big money if their guru is wrong, the work is fraught with the peril of being hanged, though only in effigy...
Frank is about as far as you can get from a pinstripe, commission-driven Wall Street professional, which is probably why his readers like him. He is a former professor of philosophy, carelessly dressed, with watery blue eyes and a fleshy, houndlike face. He is still doing penance for his 1987 performance, having vowed not to smoke another cigar till the Dow Jones average tops 2722. He tends to dwell on his losses, even though he started out with $8,000 in 1977 and by taking his own advice has boosted it to $422,000. Charles Allmon, a rival newsletter...
Minor changes will also be made to improve comfort and appearance, such as the addition of new carpets, wall coverings and room-by-room temperature control, the letter said...
...Some Wall Street experts predict painful new layoffs at many U.S. firms. "What the industry needs is a good housecleaning," says Lipper Analytical's Long, who argues that brokerages would need to dismiss 12,000 to 17,000 more employees to keep profits from sinking further. Other analysts expect a steady decline in the number of investment firms. Since the crash, membership on the New York Stock Exchange has fallen from 392 companies to 365, a decline of nearly 7%. The dropouts have either closed their doors or merged with stronger firms...
...federal regulators liquidate everything from condominiums to gravel pits, they must move carefully to avoid triggering a plunge in property values. -- Despite a rising Dow, Wall Street faces more layoffs and falling profits. -- Control Data pulls out of the supercomputer market, leaving Cray Research as the sole U.S. firm to compete against rival Japanese manufacturers...