Word: witter
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Dates: during 1980-1989
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Hutton and Dean Witter Reynolds have distributed most of the rest...
...last week still had millions of questions about their new phone company-or companies. Unfortunately, at every level of what used to be the Bell System and in the regulatory commissions of all 50 states, there were many more questions than answers. Confesses William McKeever, telecommunications analyst at Dean Witter Reynolds: "Everybody is confused. The customers are thoroughly confused. The employees are confused. The companies are confused. So are the regulatory commissions, the unions and the stockholders...
...launch its first attack, introducing a self-contained camera-videotape recorder that runs on narrow, 8-mm tape. The device will be smaller, lighter and easier to carry than most items now on the market, which use wider tape. Says Eugene Glazer, a leading photo-industry analyst for Dean Witter: "The new products are going to be very, very important. Small color-video-camera recorders will be the next big wave in consumer electronics...
Rival financiers originally laughed at the proposal, but last week they stopped abruptly. Dean Witter Reynolds paid Merrill Lynch $1 million in an out-of-court settlement in a case involving patent rights for the CMA. The legal battles over the CMA, though, have only begun. Paine Webber has gone into federal court in Delaware questioning the validity of the patent, and Merrill Lynch reportedly is considering suits against Prudential-Bache and Shearson/American Express, which also have CMA clones...
...combination of all the companies gives Sears enormous reach. Dean Witter, for instance, can sell federally insured money-market accounts through Allstate Savings and Loan. Coldwell, Banker has started offering discount coupons on Sears merchandise to home buyers in 28 states. Sears is considering the introduction of a universal credit card that will be able to handle any household financial transaction, from buying a pair of gloves to arranging a second mortgage. It also wants to acquire savings and loans or banks. Chairman Telling told stockholders in May: "We can greatly broaden the activities of our financial network and give...