Word: witters
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Dates: during 1980-1989
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...card in that group is not American Express or Diners Club but the Sears card. One of the first customers of the financial center at the Sears store in Cupertino, Calif., in the heart of the Silicon Valley, was a man who opened a $ 1.9 million account at Dean Witter Reynolds, the stockbroker that Sears bought in 1981. At the other end of the scale, a third of American households earning less than $10,000 are Sears customers too. Sears studies show that 86% of its customers are married, 54% have children, 54% are white collar, 28% blue collar...
Others, however, were convinced that the summer rally will pay dividends in the fall. Robert Stovall, director of investment policy for Dean Witter, points out that during the past 38 years a summer rally has occurred 19 times, and the average gain has been 9.4%. From its low on May 29 of 1101.24, the market by the end of last week had risen just that much. In a few wild days, Wall Street had already enjoyed its summer rally. This week traders will try to push for new records. -By Alexander L Taylor III. Reported by Adam Zagorin/New York
Many Wall Street analysts welcomed the transaction. Said Mark Rogers of Dean Witter Reynolds: "This deal will make almost everybody happy." That includes Murdoch, who stands to make a profit of around $37 million by selling his St. Regis stock to Champion...
...made in leveraged buyouts have been rushing to assemble billion-dollar cash pools to be used for the deals. That will make more loans available to buyers who actually make the buyouts. Even small investors will soon be able to get into the game. The brokerage house of Dean Witter Reynolds plans to offer a leveraged buyout fund that will allow individuals to participate for as little...
Wall Street shares that wary view. "Many housing stocks have not looked good from a growth and investment standpoint," says Dean Witter Analyst Alan Wapnick. "They've really gotten hammered." For example, the share price of U.S. Home, the largest American homebuilder, is down more than 60% from its 52-week high of 20¾ last May. An important reason for the decline, says Wapnick, is the prospect of higher interest rates...