Word: witter
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Dates: during 1990-1999
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...seems to be a but -- much of the drowned farmland is normally among the most fertile acreage on earth, and prospective crop losses are spectacular: $1.5 billion worth of soybeans in Illinois; $1 billion of corn in Iowa. "There is still time to recover," says Victor Lespinasse, a Dean Witter grain analyst in Chicago. "But none of us is ever going to forget how the rains came in the summer for the first time, out of nowhere. And we will never feel the same about our place on earth." He is referring to the flood's menacing peculiarity...
Houtkin hits the keyboard, and prices for the stock of Cisco Systems, a volatile computer company, pop up on the screen. Fortunately, I'm told to ignore everything except two columns I can barely read anyway. One lists the prices that 47 marketmakers (firms like Morgan Stanley and Dean Witter) are willing to pay for Cisco. The second shows what they're willing to sell...
...advertising industry. After all, this is a key account, on which Coke spends about $600 million a year. "Anytime a major client like Coca-Cola makes a public demonstration of lack of confidence, it's not good for your reputation," says James Dougherty, an advertising specialist at Dean Witter...
...venture into stocks and bonds and real estate. As Sears diversified, highly focused retailers ate its bread and butter. Wal-Mart offered low prices, while Nordstrom boasted personal service. Now, with its flagship Sears stores in trouble, the company is getting back to basics by selling its Dean Witter brokerage house and most of its Coldwell Banker real estate firm. Sears is not the only respected name to get burned in the financial-services business; Westinghouse is painfully extricating itself from a fling in that industry that has cost it about $3 billion in losses...
...national merchandising, catalog shopping and even store-wide sales was that it was better at selling stocks, bonds, credit cards and insurance policies than it was at satisfying its core retail customers. Such financial ventures as its Coldwell Banker real estate unit, Allstate Insurance, Discover credit cards and Dean Witter are currently generating 90% of Sears' earnings, while income from its 860 retail stores has declined 33% this year. Rather than help Sears' growth, most analysts believe, the financial units only subsidized its failure to compete during the retail revolution that produced such fierce, profit-taking rivals as Wal-Mart...