Word: walnuts
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...into Sears and bought $3 million worth of securities. A Jacksonville, Fla., woman who received a Dean Witter flyer with her Sears charge-account statement responded with a $1 million check. Far more significant has been the amount of traffic attracted to the outlets, which, with potted plants and walnut desks, resemble suburban bank branches. The average broker has lured three times as many new accounts and booked triple the sales of his pinstriped counterpart in one of the 325 freestanding Dean Witter offices...
...dissenters believe it is too early to tell whether Sears' expertise in merchandising staples to Middle America can be transferred to Individual Retirement Accounts and commodity straddles. Still, other brokers are watching their local Sears stores and wondering how long it will be before the potted plants and walnut desks appear...
Roger Birk, chairman of Merrill Lynch & Co., stands as tall on the job as in his profession. Birk presides over the largest U.S. brokerage house from a brown walnut stand-up desk that he uses for everything from reading mail to signing multimillion-dollar deals. He acquired the desk ten years ago to help relieve the agonizing backaches that plagued him after long hours in a chair. Those pains are gone now, but the desk has stayed. Says Birk: "I find it pleasant and more practical than normal desks, and even tension easing...
...Newark and later in Baltimore. The world became a gray hell of treeless streets and schoolyard bullies. But Baker had a platoon of entertaining uncles. There was Uncle Hal the blowhard, who turned up en route he said, to a major business deal involving "a forest full of walnut of the finest, rarest quality. Its location was known only to him. He would need great cleverness to keep New York businessmen from wheedling its location out of him, but he wasn't worried. He knew how to handle such men." He stayed for months and left only after wheedling...
DIED. Clinton T. Duffy, 84, warden of California's San Quentin prison from 1940 to 1952, whose humanitarian reforms inspired warm tributes from many of his inmates as well as imitation by other penologists; of a stroke; in Walnut Creek, Calif. Born and raised within San Quentin's gates as the son of a guard, Duffy took over "Q" after five riot-filled years. He abolished airless, dungeon-like cells and physical punishments, fired guards for cruelty, and introduced such unheard-of civilities as a night school, a cafeteria and an inmate-staffed newspaper. The author of three...