Word: witter
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Dates: during 1990-1999
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...shiny they might have been minted that morning--and not so Fisher and Mack could go on a shopping spree at Sears. No. They had already been shopping in a much bigger store: the stock market. The cards were part of their quarry, a $10 billion merger with Dean Witter Discover that signals an interest in common folks unprecedented at Morgan Stanley since it split from the J.P. Morgan bank...
...Dean Witter, once owned by Sears, has long been the little guy's friend on Wall Street. It has shunned such fancy fads as junk bonds and bankrolling corporate takeovers in favor of the mundane. Morgan Stanley has always considered such "retail" brokerage a pauper's enterprise. It has stuck with raising capital for the world's largest companies and advising them on what to do with same. Individual investors? Phew. Morgan bankers wouldn't soil their wing tips in that mire...
Even if the teen smoking regulations were to go into effect, most would merely shore up existing, if unenforced, laws. And just as smoking wafts in and out of vogue, reports of tobacco's demise may be greatly exaggerated. David Adelman, a tobacco-industry analyst for Dean Witter Reynolds, points out that the industry has a remarkable ability to shift gears. "Ninety-five different things have come out in the past, and you have the anti-tobacco people saying this is it, this is going to be the case that brings victory," he says. "But it's a pretty high...
...week." Did you realize, for instance, that a broker who switches firms is often rewarded with a double commission on whatever he buys and sells during his first few months on the new job? This explains why the stock he told you to buy when he worked at Dean Witter, he wants you to sell when he gets to Smith Barney...
...either Paine Webber or Kidder Peabody, you may want to get ready for some changes. Paine Webber announced it will buy Kidder Peabody from General Electric for $670 million. The move will make Paine Webber the fourth largest brokerage firm in America, after Merrill Lynch, Smith Barney and Dean Witter. On the bright side, the move should strengthen the firm's already considerable research and investment resources. On the down side, though, some analysts speculate that as many as half of Kidder's 5,000 employees may be laid off eventually...