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BUSINESS
By Michael Siconolfi and Michael Siconolfi,Dow Jones News Service | April 21, 1991
NEW YORK -- Dean Witter Reynolds Inc. forced out its chief investment strategist, Suresh Bhirud, after a feud over how much money the firm's customers should be investing in stocks.When he was urging investors to put 20 percent of their accounts in cash in late February, Mr. Bhirud says Dean Witter told him he was being too bearish. He says the big securities firm forced him to urge investors to cut their cash position to 10 percent and put the rest in stocks. This week, the firm further cut its cash position to 5 percent.
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NEWS
March 6, 2003
Interest on bond issue declined 1 point last year Anne Arundel County officials announced yesterday that the county's interest rate for its $211 million bond issue decreased to 3.673 percent from 4.678 percent last year. The rate - which was the bid of Morgan, Stanley Dean Witter - reflects falling interest rates nationwide. But it also follows major financial rating services' expressions of concern over how state budget cuts might affect the county's financial status. The bond issue consists of $86 million to refinance existing bonds, $80 million to pay off bond anticipation notes and $45 million for new capital projects.
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BUSINESS
By Marcia Myers and Marcia Myers,SUN STAFF | December 2, 1995
Richard Faby's mission was no secret when he became branch manager of Dean Witter's Greenspring office two years ago. His top priority: to expand the office with talented recruits.So, according to papers filed in U.S. District Court in Baltimore, Mr. Faby launched a series of successful raids. Before long, he had boosted his staff with skilled brokers from Smith Barney, Prudential Securities and other firms.The raids have prompted at least two restraining orders that bar new Dean Witter brokers from tapping their former clients for business.
BUSINESS
By BLOOMBERG NEWS | March 8, 2000
WASHINGTON -- U.S. worker productivity in the fourth quarter of 1999 grew at the fastest pace in seven years and labor costs fell for the second straight quarter, the Labor Department said yesterday. Productivity, a gauge of output per hour worked, rose at a 6.4 percent annual rate in the final three months of the year. That's up from the third quarter's 5 percent pace and reflected the fastest rate of economic growth in 3 1/2 years. While that's good news for the economy because it suggests businesses are finding new ways to absorb increases in labor costs and avoid raising prices, it's unlikely to stop Federal Reserve policy-makers from pushing interest rates higher in the coming months to keep the economy from overheating.
BUSINESS
November 4, 1994
NationsBank invests in unitNationsBank Corp. said yesterday it agreed to purchase an investment stake in its brokerage unit from Dean Witter Discover & Co. for an undisclosed price. The brokerage unit, NationsSecurities, includes the Charlotte, N.C., company's full-service brokerage and its London stock brokerage.Spokesman Rusty Page said the nation's fourth-largest banking company chose to purchase the stake because of difficulties selling the unit's services to competitors of Dean Witter.
NEWS
By Greg Tasker and Greg Tasker,Staff writer | September 15, 1991
Nineteen years ago, first-grader Wanda McNeave learned to read and write in Linda Witter's classroom at William Winchester Elementary School.McNeave, now 25, is today teaching other children to read andwrite in the same classroom -- with the help of her first-grade teacher."
BUSINESS
September 24, 1994
More cuts by American AirlinesAfter grounding dozens of jets over the past year to help cut costs, American Airlines yesterday disclosed plans to shrink its fleet by at least 18 more planes and eliminate about 3,600 jobs.The news came a day after the big U.S. airline disclosed another cost-saving strategy, saying it would hire other companies to handle many of the passenger-service jobs at 30 airports where American has a small presence.With 22 daily departures, American is the fourth-largest airline operating at Baltimore-Washington International Airport.
BUSINESS
By New York Times News Service | October 29, 1994
NEW YORK -- Seeking to prevent wholesale defections at Kidder Peabody & Co., the PaineWebber Group Inc. sued two rivals yesterday, accusing them of offering "exorbitant" financial incentives to lure Kidder's top brokers away before PaineWebber completed its takeover of Kidder.In separate lawsuits, filed in New York City and Chicago, PaineWebber contended that the recent hiring of Kidder brokers by Donaldson, Lufkin & Jenrette Inc. and Dean Witter Reynolds Inc. constituted a raid that could jeopardize its deal to buy Kidder from General Electric Co. for $670 million in stock.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 21, 1995
Alex. Brown Inc.'s high-flying stock tumbled yesterday by $3, and it has lost 21 percent of its value since its high last month.The stock closed at $47.625 a share, the day after the company released strong third-quarter results.Alex. Brown was one of a number of financial firms whose stock was hammered yesterday after Federal Reserve Chairman Alan Greenspan hinted that interest rates might not be cut soon.Shares of Merrill Lynch & Co. fell $2.125, to $57.375, Morgan Stanley Group Inc. was down $4.125, to $87.875, and Dean Witter Discover & Co. slipped $1.875, to $52.Alex.
NEWS
March 6, 2003
Interest on bond issue declined 1 point last year Anne Arundel County officials announced yesterday that the county's interest rate for its $211 million bond issue decreased to 3.673 percent from 4.678 percent last year. The rate - which was the bid of Morgan, Stanley Dean Witter - reflects falling interest rates nationwide. But it also follows major financial rating services' expressions of concern over how state budget cuts might affect the county's financial status. The bond issue consists of $86 million to refinance existing bonds, $80 million to pay off bond anticipation notes and $45 million for new capital projects.
ENTERTAINMENT
By Victoria Brownworth and Victoria Brownworth,Special to the Sun | October 24, 1999
With October come shorter days, cooler nights and fortunately some first-rate novels of identity to curl up with on an autumn evening.Justin Cartwright's "Leading the Cheers" (Carroll & Graf, 256 pages, $23.95) won England's Whitbread Award -- deservingly -- as it is one of the best novels of the much overdone midlife-crisis genre. Dan Silas, 45 and fresh from the break-up of two long-term relationships (with his lover, Stephanie, and his business partner, Peter), is a bit adrift -- suffering from too much free time and disposable income.
BUSINESS
By Lyle Denniston and Lyle Denniston,SUN NATIONAL STAFF | October 6, 1998
WASHINGTON -- The Supreme Court cleared the way yesterday for investors to sue brokers who fail to obtain the best price available when they buy and sell stocks for their customers on the Nasdaq.In a brief order with no explanation, the court declined to review a federal appeals court ruling that allowed a securities-fraud lawsuit to go forward against three brokerage firms. The case potentially involves millions of small transactions worth billions of dollars.The three brokers -- Merrill Lynch & Co., PaineWebber andMorgan Stanley Dean Witter -- unsuccessfully asked the Supreme Court to overturn the lower court and block such lawsuits.
NEWS
By Sean Somerville and Sean Somerville,SUN STAFF | February 6, 1997
Dean Witter, Discover & Co. and Morgan Stanley Group Inc. yesterday announced a $10 billion merger that will create the world's largest securities firm and likely spark consolidation elsewhere on Wall Street.The stock swap will combine Dean Witter's vast retail brokerage and Morgan Stanley's blue-chip investment bank.The combination will create a $23 billion company that manages $270 billion -- the largest amount managed by a securities firm, the two companies said."The combination of Morgan Stanley and Dean Witter, Discover may be as close to an ideal merger as there is," said Philip J. Purcell, Dean Witter's chairman and chief executive officer.
BUSINESS
By Marcia Myers and Marcia Myers,SUN STAFF | December 2, 1995
Richard Faby's mission was no secret when he became branch manager of Dean Witter's Greenspring office two years ago. His top priority: to expand the office with talented recruits.So, according to papers filed in U.S. District Court in Baltimore, Mr. Faby launched a series of successful raids. Before long, he had boosted his staff with skilled brokers from Smith Barney, Prudential Securities and other firms.The raids have prompted at least two restraining orders that bar new Dean Witter brokers from tapping their former clients for business.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 21, 1995
Alex. Brown Inc.'s high-flying stock tumbled yesterday by $3, and it has lost 21 percent of its value since its high last month.The stock closed at $47.625 a share, the day after the company released strong third-quarter results.Alex. Brown was one of a number of financial firms whose stock was hammered yesterday after Federal Reserve Chairman Alan Greenspan hinted that interest rates might not be cut soon.Shares of Merrill Lynch & Co. fell $2.125, to $57.375, Morgan Stanley Group Inc. was down $4.125, to $87.875, and Dean Witter Discover & Co. slipped $1.875, to $52.Alex.
BUSINESS
November 4, 1994
NationsBank invests in unitNationsBank Corp. said yesterday it agreed to purchase an investment stake in its brokerage unit from Dean Witter Discover & Co. for an undisclosed price. The brokerage unit, NationsSecurities, includes the Charlotte, N.C., company's full-service brokerage and its London stock brokerage.Spokesman Rusty Page said the nation's fourth-largest banking company chose to purchase the stake because of difficulties selling the unit's services to competitors of Dean Witter.
BUSINESS
By Knight-Ridder News Service | June 28, 1992
If you ever needed proof that asset-diversification works, consider this example by Dean Witter:If you invested $100,000 for 25 years in an interest-bearing product yielding 8 percent, your investment would be worth $684,850 at the end of the period, assuming all dividends were reinvested.But what would happen if you divided the $100,000 evenly among five investments -- $20,000 in each -- with the following results?* You lost every dime of the first $20,000.* You broke even on the second $20,000.
BUSINESS
By BLOOMBERG NEWS | March 8, 2000
WASHINGTON -- U.S. worker productivity in the fourth quarter of 1999 grew at the fastest pace in seven years and labor costs fell for the second straight quarter, the Labor Department said yesterday. Productivity, a gauge of output per hour worked, rose at a 6.4 percent annual rate in the final three months of the year. That's up from the third quarter's 5 percent pace and reflected the fastest rate of economic growth in 3 1/2 years. While that's good news for the economy because it suggests businesses are finding new ways to absorb increases in labor costs and avoid raising prices, it's unlikely to stop Federal Reserve policy-makers from pushing interest rates higher in the coming months to keep the economy from overheating.
BUSINESS
By New York Times News Service | October 29, 1994
NEW YORK -- Seeking to prevent wholesale defections at Kidder Peabody & Co., the PaineWebber Group Inc. sued two rivals yesterday, accusing them of offering "exorbitant" financial incentives to lure Kidder's top brokers away before PaineWebber completed its takeover of Kidder.In separate lawsuits, filed in New York City and Chicago, PaineWebber contended that the recent hiring of Kidder brokers by Donaldson, Lufkin & Jenrette Inc. and Dean Witter Reynolds Inc. constituted a raid that could jeopardize its deal to buy Kidder from General Electric Co. for $670 million in stock.
BUSINESS
By Bloomberg Business News | October 27, 1994
NEW YORK -- U.S. stocks closed mixed yesterday as a handful of companies reported better-than-expected earnings and a government report showed few signs of inflation in the economy.Ford Motor Co., Boeing Co., Procter & Gamble Co., Sara Lee Corp. and other companies reported profits that surpassed the expectations of Wall Street analysts.Meanwhile, the Commerce Department said orders for big-ticket goods rose 0.1 percent in September, compared with economists' expectations of a 0.2 percent increase.
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