Word: kadlec
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...umbrella of firms that set up clients with high-speed equipment and a trading room in exchange for commissions, is certainly a dangerous game. "The markets move very fast, and something like 90 percent of people who try this aren?t successful," says TIME Wall Street columnist Dan Kadlec. But failure isn?t against the law, and after the report?s release, trading firms were scrambling to remind regulators -? and the public -? that a few unscrupulous apples aside, what they sell isn?t any different than a job at Merrill Lynch: it?s an opportunity to play the markets with...
...Daniel Kadlec...
...Porsches come in chocolate brown? After 92 years as an employee-owned, privately held bastion of brown-suited Americana, UPS has heard the stock market?s siren song. The company will sell 10 percent of itself in a public offering later this year. And TIME Wall Street columnist Daniel Kadlec says this brown-paper package is going to go like hotcakes. "This is the most direct nondirect way to get invested in the Internet," he says. "Fed Ex stock has done very well as a way to cash in on the e-tailing boom through shipping ?- and UPS ships four...
...begun, casting doubt on money-losing e-tailers like Amazon.com, the Street still knows that somebody?s going to get rich selling stuff online. Which makes a safe bet like UPS ?- the guys who deliver it to you ?- doubly attractive. "They?re obviously cashing in on the Internet craze," Kadlec says. "They?ve waited 92 years, and they have no desperate need for the cash. This is just too good an opportunity to pass up." Nobody deserves a little taste of Internet riches more than the men in brown ?- remember, this is a company whose 15 top executives all started...
...hearing this week?s good-news, bad-news earnings reports - such as Microsoft?s, which combined Street-beating earnings with oblique forecasts of Y2K headaches - investors evidently figured Tuesday was as good a time as any. "This was profit-taking, pure and simple," says TIME Wall Street columnist Dan Kadlec of the three bears (the Dow shed 191, the Nasdaq 98 and the S&P 30). "Mixed earnings messages like Microsoft?s set the techs going, and the Dow just followed...