Word: traders
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Dallas is a trader's town, a place for shrewd operators from the time of its founding in 1840, on a likely river crossing, by a canny settler of the Texas Republic's northern Indian frontier. Roads and rails soon branched away from the site, and Dallas began to do big business in buying, selling, managing and shipping the goods of the Southwest. In succession came buffalo hides, cotton, wheat and oil, banks to make loans for a percentage of the profits and insurance companies to underwrite them. It is a city of wealth wrought with sharp pencils and calculating...
...most serious charges were leveled against Richard C. Groover, Edward A. Arnold and Robert N. Meyer Jr.-all traders in soybeans, the protein-rich legumes that have brought great wealth to farmers and speculators. The three traders were accused of the long-forbidden practice of "bucketing." A bucketing broker takes a customer's order to buy or sell soybeans or other commodities but, instead of making the transaction on the open market, the trader arranges a private rigged deal that can bring him an illegal profit. If proved guilty, Groover, the alleged ringleader, could face up to 128 years...
...some cases, the compilation of cash can only be understood as an intellectual challenge. Take rich Rich Dennis, 28, who is unmarried, lives with his parents in a modest Southside Chicago bungalow and is one of the world's smartest commodity traders. He has made close to $10 million. If you want to get rich, he advises, "you can't have the usual attitude toward money. If you think of every dollar you lose on the commodities market as a bucket of coal you'll have to shovel some day, then you're bound...
...foreign goods. Even though the West and Japan are now recovering from the deepest economic slump since the 1930s, protectionist tendencies remain powerful. In an effort to defuse those tendencies in the U.S.-where they are strong in Congress and among the trade unions-President Carter, a committed free trader, is trying to solve trade problems one at a time. The unpleasant alternative would have been to resort to high tariff barriers that might set off a global trade war and raise havoc with the fragile world economy...
...first marriage, acted in concert with five other Hunts to acquire contracts for future delivery of more than 23 million bushels of soybeans -nearly a third of the nation's expected supply this year and far above the legal limit of 3 million bushels allowed to any one trader or trading group. A federal district court in Chicago will consider this week whether to order the Hunts to reduce their holdings to that limit. The Hunts contend that each family member acted alone and so is entitled to hold the maximum...