Word: witters
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...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...
...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...