941:
932:, the Discover Card quickly gained a large national consumer base. It carried no annual fee, which was uncommon at the time, and offered a typically higher credit limit than similar cards. Cardholders could earn a "cashback bonus", in which a percentage of the amount spent would be refunded to the account (originally 2%, now as high as 5%), depending on how much the card was used. Discover offered merchant fees significantly lower than those of other widely accepted credit cards. Eventually, Discover grew to become one of the largest credit card issuers in the U.S.
1026:, the main architect of the merger, became chairman and chief executive officer of the merged group. The merger marked the pairing of a storied investment banking firm with a retail brokerage (that had been owned by a retailer) that was often termed "white shoes and white socks". In order to avoid tension during the integration of the two firms, Purcell and Morgan Stanley's CEO John Mack decided not to choose between the two brand names. Instead, they combined the names of the two firms and put the Morgan Stanley Dean Witter brand on almost all of its operations.
644:
45:
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firms to sell an interest in their privately held businesses to public investors, following
Merrill Lynch's initial public offering. In 1976, Reynolds implements REYCOM, the most sophisticated high-speed wire system in the industry. Meanwhile, the firm was continuing its expansion, acquiring its first international offices in
1004:
771:
301:
845:
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announced a major acquisition initiative in financial services. In addition to the acquisition of Dean Witter, Sears also acquired
Coldwell Banker, the real estate brokerage company in 1981. Sears intended for Dean Witter to form the foundation for a larger Sears Financial Services Network that would
805:
In 1958, Reynolds passed its leadership to the next generation with Thomas F. Staley departing and naming Robert M. Gardiner to head the firm. Under
Gardiner, Reynolds embarks on a major expansion, acquiring 26 offices from A.M. Kidder & Co. Reynolds acquired another three offices and opened nine
755:
Following Witter's death in 1969, and the retirement of Guy Witter the following year, Jean Witter's son, William M. Witter, became CEO of Dean Witter & Co. After numerous brokerage firm acquisitions, Dean Witter went public in 1972. Dean Witter's initial public offering (shortly after the IPO of
618:
business. Discover Card, which today operates is the company's most widely held proprietary general-purpose credit card and generated a majority of Credit
Services' revenues and net income in 1996. Prior to its merger, Dean Witter's credit cards business accounted for 52% and 47% of the company's net
584:
However, the firm always maintained a strong connection between its investment banking business and its core business focused on individual investors. As a result, the investment banking division was involved in the research, development, and origination of investment products focused on individual
452:. Closely related to its securities business, Dean Witter provided investment consulting services to individual investors. The firm managed approximately $ 10.4 billion of assets in its consulting business as of the end of 1996. Within its securities business, Dean Witter focused on three segments:
727:
The company grew rapidly during the 1950s and 1960s, establishing itself as a major U.S. brokerage house and developing a reputation for innovation in the securities industry. In 1938, Dean Witter established its national research department, and in 1945, became the first retail securities firm to
720:
809:
Reynolds was incorporated in 1971 as
Reynolds Securities in advance of an initial public offering. By early 1971, there was speculation that Merrill Lynch would sell shares to the public. Reynolds initial public offering (and shortly thereafter Dean Witter's IPO) was part of a rush of Wall Street
1021:
Although Morgan
Stanley was the more prominent partner, Dean Witter's focus on retail investors, mutual funds and credit cards which were seen by the stock market as generating more stable cash flows than Morgan Stanley's investment banking business had by the time of the merger made it the more
952:
Sears' financial services initiative proved highly successful as
Discover grew through the late 1980s and early 1990s. Furthermore, the substantial investment in the Discover business also began to pay off, with the business becoming highly profitable. The early 1990s were also a period of rapid
782:, a 22-year-old tobacco heir, together with Charles H. Babcock and Thomas F. Staley. In particular, Thomas F. Staley was Reynolds’ cousin (the grandson of Major D. Reynolds, an older brother of R.J. Reynolds). In 1951, another senior partner, John D. Baker, joined the company. Reynolds' father
856:
in a $ 600 million transaction. Sears' core retail business was facing several challenges, and the company decided to diversify into new businesses, including financial services. Sears, which was already in the financial services business through its ownership of the
833:(DWRO) in what was then the largest securities-industry merger in U.S. history. The resultant company, Dean Witter Reynolds, was the fifth-largest broker in the U.S. One year later Dean Witter Reynolds became the first securities firm to have offices in all 50
242:
and securities firm catering to a variety of clients. Prior to the company's acquisition, it was among the largest firms in the securities industry with over 9,000 account executives (ranking third in the US in 1996) and was among the largest members of the
626:
and consisted of merchant and cash locations that accept card brands that carry the NOVUS logo. In addition to the
Discover Card, this the NOVUS network included Private Issue Card, the BRAVO Card and the National Alliance For Species Survival SM Card.
960:
Dean Witter's core securities business and its
Discover business generated combined revenue of $ 59 billion in 1992 and Sears announced that it would seek to monetize its investment. In February and March 1993, Sears sold 20% of the company in an
1029:
Eventually, to foster brand recognition and marketing, the Dean Witter name was dropped from the retail services division in 2001, leaving the current name Morgan
Stanley. In 2009, the Dean Witter retail operations were transferred to
801:
Like Dean Witter, the company survived the Depression, generating a profit each year. In 1934, Reynolds acquired F.A. Willard & Co. With the acquisition, Reynolds tripled its sales and shifted its emphasis toward underwritings.
247:. The company served over 3.2 million clients primarily in the U.S. Dean Witter provided debt and equity underwriting and brokerage as mutual funds and other saving and investment products for individual investors. The company's
670:, Dean Witter would be among the largest brokerages on the West Coast. Among Witter's original partners were Guy and Jean, as well as cousin Ed Witter and Fritz Janney. Prior to founding his own firm, Witter partnered with
969:, with two primary operating subsidiaries: Dean Witter Reynolds and Discover Card. Later that year, the remaining 80% of shares were distributed to Sears' shareholders, giving Dean Witter complete independence from Sears.
483:
on various exchanges. Dean Witter's research department provided economic analysis and commentary, market and quantitative research, as well as making recommendations with regard to broad individual companies and industry
756:
Reynolds Securities) was part of a rush of Wall Street firms to sell an interest in their privately held businesses to public investors, following Merrill Lynch's initial public offering in early 1971.
318:
and investment products and services. Dean Witter operated in two lines of business: securities (including investment banking) and credit services and its operations were primarily focused on the U.S.
436:
Dean Witter's traditional business was as a full-service securities brokerage. The company maintained a network of over 9,000 account executives. DWR was among the largest members of the
976:(i.e. South Tower), where the firm had occupied over 864,000 square feet (80,300 m) since 1985. Dean Witter was one of many tenants whose offices were evacuated as a result of the
889:
force of over 4,500 account executives in over 300 locations with over 11,500 employees in total. For the year ended 1980, Dean Witter Reynolds generated over $ 700 million of revenue.
2524:
885:
consultant, to head Dean Witter. Purcell moved to New York to run the operation from Dean Witter's office. At the time of the Sears acquisition, Dean Witter Reynolds had a retail
440:
and was a member of other major securities, futures, and options exchanges. Dean Witter offered a broad range of securities and savings products that were supported by the firm's
1443:
1671:"Morgan Stanley Dean Witter & Company - Company Profile, Information, Business Description, History, Background Information on Morgan Stanley Dean Witter & Company"
995:
Dean Witter was the first big brokerage company to get into the online trading business when it bought a small San Francisco-based outfit called Lombard Brokerage in 1996.
2554:
700:
In its early years, Dean Witter focused on dealing with municipal and corporate bonds. The company was highly successful in its first five years, purchasing a seat on the
2549:
779:
285:
to form "Morgan Stanley Dean Witter & Discover Co.". The combined firm later dropped the "Discover Co." name in 1998 and further the "Dean Witter" name in 2001.
1386:
2038:
1638:
1548:
821:
At the time of its merger with Dean Witter in 1978, Reynolds Securities had over 3,100 employees in 72 offices producing gross revenues of nearly $ 120 million.
1972:
635:
Dean Witter Reynolds traced its origins to two firms: Dean Witter & Co. founded in 1924 and Reynolds & Co. (later Reynolds Securities) founded in 1931.
1871:
314:
Prior to its merger with Morgan Stanley, Dean Witter Reynolds was a diversified financial services organization that provided a broad range of investment and
2564:
251:
arm, Dean Witter InterCapital, with total assets of $ 90.0 billion prior to the acquisition, was one of the largest asset management operations in the U.S.
2574:
1919:
1779:
1359:
666:(together with his brother Guy Witter and cousin Jean Witter) as a retail brokerage firm in 1924. With its original offices at 45 Montgomery Street in
2534:
980:, which took place during the firm's spinoff from Sears. Following, the firm's merger with Morgan Stanley, the firm's headquarters would be moved to
2569:
678:, another San Francisco based brokerage in 1914. After Witter's departure, Blyth would continue on his own (his firm was ultimately acquired by
1903:
1989:
1887:
1619:
622:
In addition to the Discover Card, the company operated the NOVUS Network. In the mid-1990s, the NOVUS Network was the third-largest domestic
2022:
748:. In 1962, Dean Witter became the first firm to use electronic data processing — a feat that paved the way for securities handling on
693:
in 1891. Before founding his own firms, Dean Witter had worked as a salesman for Louis Sloss & Company from his graduation from the
1418:
2129:
1951:
1707:
973:
945:
1014:
In 1997, Morgan Stanley Group, Inc. and Dean Witter Discover merged to form one of the largest global financial services firms:
2559:
1502:
1231:
519:
495:
288:
For many years, the company used the corporate slogan, "We measure success one investor at a time", which was later adopted by
2544:
2539:
2006:
2418:
1600:
1754:
1670:
741:
1935:
694:
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1807:
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740:. In the early 1950s, Harris, Hall was one of the 17 U.S. investment banking and securities firms named in the
656:
1529:
1042:
The following is an illustration of the company's major mergers and acquisitions and historical predecessors:
1018:. The combined firm later dropped the "Discover Co." name in 1998 and further the "Dean Witter" name in 2001.
2096:
2122:
701:
561:. Like many of its peers, Dean Witter provides a range of advisory services to corporate clients including
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2054:
1289:
1031:
17:
728:
offer formal training for account executives. In 1953, the firm entered into an agreement to merge with
2423:
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1007:
853:
1993:
30:
This article is about the former securities firm. For the U.S. businessman and company's founder, see
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2365:
709:
667:
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1478:
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2579:
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1214:
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After completion of the merger, Dean Witter Reynolds generated revenue of more than $ 520 million.
562:
499:
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2115:
1731:
962:
783:
705:
593:
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focusing its trading activity on establishing and maintaining an inventory of various securities.
437:
414:
244:
818:. A year later, Reynolds acquired Baker Weeks & Co. whose strength was securities research.
1823:
953:
growth for Dean Witter Reynolds as its strategy of focusing on the distribution of proprietary
690:
675:
511:
472:
1872:"Talking Business; with Purcell of Dean Witter Reynolds; Cutting Volatility To Help Investors"
1767:
1694:
988:. Morgan Stanley Dean Witter still had a large presence at the World Trade Center during the
815:
729:
597:
1855:
1549:"Goldman Sachs tries something new: promoting itself to the public as a brand worth knowing"
321:
The following is a summary of the financial results of Dean Witter prior to its merger with
2179:
2174:
1839:
1072:
989:
929:
262:(with Dean Witter acquiring Reynolds), which was then the biggest merger in the history of
2483:
8:
2236:
1193:
1131:
765:
623:
586:
523:
259:
79:
1795:
824:
2473:
2307:
2221:
1364:
1240:
921:
737:
554:
537:
63:
2066:
Charles Schwab: How One Company Beat Wall Street and Reinvented the Brokerage Industry
2330:
2256:
2226:
2087:
2069:
1646:
1451:
1394:
1023:
1010:
logo c. 2000. The combined company dropped the usage of the Dean Witter brand in 2001
882:
878:
787:
745:
686:
948:, occupying 864,000 sq. ft., from 1985 until its merger with Morgan Stanley in 1997)
2478:
2320:
2246:
2216:
1276:
1256:
1250:
1221:
1204:
913:
838:
713:
671:
652:
578:
570:
541:
533:
529:
491:
460:
456:
449:
366:
248:
2059:
581:. The Company generally does not commit capital to merchant banking transactions.
2403:
2350:
2340:
2325:
2277:
2231:
2039:"Will the Blue Bloods at Morgan Stanley Mix With the Just Plain Folks at Witter?"
1624:
1226:
1189:
791:
468:
445:
315:
1565:
697:
in 1909 until 1914. Dean Witter would lead his company until his death in 1969.
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558:
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31:
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In 1997, Dean Witter, Discover & Co. merged with investment banking house
2513:
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1455:
1398:
1294:
1245:
1209:
1184:
1003:
981:
893:
870:
655:. Blyth Witter's other successor firm was known as Blyth & Co. and later
615:
609:
574:
464:
275:
226:
144:
139:
704:
in 1928 and then opening an office in New York and purchasing a seat on the
2498:
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954:
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1235:
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263:
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Dean Witter was also active in the issuance of credit cards through its
300:
2413:
2408:
2297:
2241:
1588:
1503:"History of Morgan Stanley Dean Witter & Company – FundingUniverse"
1022:
valuable partner in terms of market capitalization. Dean Witter's CEO,
917:
909:
897:
834:
382:
221:
178:
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Blyth Witter & Co., the firm's predecessor was founded in 1914 by
2370:
2287:
2282:
1920:"Sears Will Purchase Dean Witter in Plan to Offer Financial Services"
972:
Dean Witter's corporate headquarters were located in New York City's
905:
825:
The Dean Witter Reynolds merger and the Sears acquisition (1978–1993)
957:
through its extensive retail brokerage network began to bear fruit.
643:
2315:
925:
916:
networks. Unlike other attempts at creating a credit card to rival
881:, a strategic planner at the Sears Chicago headquarters and former
858:
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in 1929. Although a relatively young company, Dean Witter survived
44:
716:, posting profits every year during the 1930s and into the 1940s.
274:" in 1993 when Sears spun off the company. The company also owned
2107:
682:
in 1979) and the two firms would remain competitors for decades.
494:
services for a broad range of fixed income securities, including
350:
744:'s antitrust investigation of Wall Street commonly known as the
1566:"About the Dean Witter Foundation | The Dean Witter Foundation"
862:
be available to customers through the company's retail stores.
811:
732:, a Chicago investment banking and securities firm spun out of
398:
865:
592:
The company's InterCapital subsidiary, with $ 90.0 billion of
2292:
2200:
2195:
2060:
Focus On The Forbes 500s: Morgan Stanley DW November 21, 2000
267:
195:
1212:, whose autobiography was turned into the 2006 feature film
778:
Reynolds & Co. was founded in 1931 in New York City by
2023:"A Deal Reaffirms the Strength of the Individual Investor"
1824:"Edward R. Telling, 86, Dies; Led Sears During Transition"
254:
Dean Witter Reynolds was founded in 1978 as the merger of
2525:
Defunct financial services companies of the United States
1780:"Witter, Reynolds Set Biggest Merger in Wall St. History"
1360:"Witter, Reynolds Set Biggest Merger in Wall St. History"
998:
603:
1343:
Dean Witter, Discover Inc. - SEC Form 10-K Annual Report
794:(Reynolds wrap), and his great uncle was the founder of
471:
services primarily to individual investors but also to
892:
Under Sears ownership, in 1986, the firm launched the
685:
Witter's family had moved to Northern California from
255:
1973:"Morgan Stanley decides to drop the Dean Witter name"
806:
firms in new regions in the U.S. in the early 1960s.
1266:
638:
475:. In many equity securities, Dean Witter acted as a
2555:
Financial services companies disestablished in 1997
935:
1856:"Chief Will Leave Morgan Stanley, Ending Struggle"
759:
869:Dean Witter, under Sears ownership, launched the
2550:Financial services companies established in 1924
2511:
1479:"Morgan Stanley, Dean Witter, Discover & Co"
1419:"Sears to acquire Dean Witter for $ 607 million"
829:In 1978 Dean Witter and Reynolds merged to form
596:as of December 31, 1996, was one of the largest
1708:"John Baker Dies at 89; Wall Street Executive"
852:In 1981, Dean Witter Reynolds was acquired by
848:Dean Witter logo under Sears ownership c. 1984
2123:
1444:"Sears Makes Bid to Buy Dean Witter Reynolds"
1016:Morgan Stanley Dean Witter & Discover Co.
2565:Former investment banks of the United States
1750:
1748:
1746:
1744:
1742:
1740:
1530:"Morgan Stanley's New Brand Unveils Tuesday"
1338:
1336:
1334:
1332:
1330:
1615:
1613:
1601:"Harris, Hall merging with Dean Witter Co."
1328:
1326:
1324:
1322:
1320:
1318:
1316:
1314:
1312:
1310:
965:, and the company was subsequently renamed
2575:1997 disestablishments in New York (state)
2130:
2116:
2007:"How a Deal Crowned A New King Of Wall St"
43:
1968:
1966:
1964:
1840:"A Strategist Who Struggled as a Manager"
1737:
1697:. New York: Harper Collins, 2003, p. 458
1050:Morgan Stanley Dean Witter
662:Dean Witter & Company was founded by
2535:Defunct companies based in New York City
1610:
1307:
1002:
939:
864:
843:
769:
718:
642:
299:
2570:1924 establishments in New York (state)
619:income in 1995 and 1996, respectively.
14:
2512:
2078:Stone, Amey and Mike Brewster (2002).
1961:
1936:"Sears shifting aim back to retailing"
1904:"Sears: New Look for the Top Retailer"
1232:John Moore, Baron Moore of Lower Marsh
1037:
999:Merger with Morgan Stanley (1997–2009)
831:Dean Witter Reynolds Organization Inc.
604:Credit cards (Discover Card and Novus)
431:
2111:
548:
1768:Struggle and survival on Wall Street
1757:(Archived). Retrieved, June 9, 2010
1639:"Richard S. Reynolds Jr. Dies at 72"
1524:
1522:
1497:
1495:
1473:
1471:
1441:
1384:
1353:
1351:
589:and other retail-oriented products.
295:
1952:"Sears Sets Sale of Rest of Witter"
1166:(merged 1997, later
490:- Dean Witter provided trading and
24:
2137:
1387:"Dean Witter, Reynolds Set Merger"
1357:
1218:, interned at Dean Witter Reynolds
1034:, a joint venture with Citigroup.
774:Reynolds Securities logo from 1977
723:Dean Witter & Co. logo c. 1976
695:University of California, Berkeley
557:firm, even before its merger with
27:Defunct American financial company
25:
2596:
1519:
1492:
1468:
1442:Rowe, James L. Jr. (1981-10-09).
1348:
1178:
944:Dean Witter was headquartered in
639:Dean Witter & Co. (1924–1978)
2376:Sears Hometown and Outlet Stores
1345:for Year Ended December 31, 1996
1269:
936:Dean Witter Discover (1993–1997)
553:Dean Witter also operated as an
202:
201:
185:
184:
168:
167:
2032:
2016:
2000:
1982:
1945:
1929:
1913:
1897:
1881:
1865:
1849:
1833:
1817:
1801:
1789:
1773:
1760:
1724:
1700:
1687:
1663:
1631:
1594:
1582:
1558:
1102:Dean Witter Reynolds
978:1993 World Trade Center bombing
967:Dean Witter, Discover & Co.
760:Reynolds Securities (1931–1978)
657:Blyth, Eastman Dillon & Co.
272:Dean Witter, Discover & Co.
1808:"Financial Retailing at Sears"
1542:
1435:
1411:
1378:
796:R. J. Reynolds Tobacco Company
266:. The company was acquired by
106:1978 (as Dean Witter Reynolds)
13:
1:
2560:1997 mergers and acquisitions
1620:"New Money for Merrill Lynch"
1300:
904:outside the well established
345: 1994
342: 1995
339: 1996
330:Financial data in $ millions
305:
2545:Companies based in Manhattan
2540:Banks based in New York City
1796:Sears History:1980s to today
1675:www.referenceforbusiness.com
1570:www.deanwitterfoundation.org
702:San Francisco Stock Exchange
532:- Dean Witter also provided
522:. The firm largely eschewed
7:
2084:and the Making of Citigroup
2055:A Brief Chronology of Sears
1290:Morgan Stanley Smith Barney
1262:
1032:Morgan Stanley Smith Barney
421:
418:
405:
402:
392:
389:
386:
376:
373:
370:
360:
357:
354:
10:
2601:
2424:Homart Development Company
2097:"Dean Witter Restructures"
1008:Morgan Stanley Dean Witter
984:on the edge of New York's
859:Allstate Insurance Company
854:Sears, Roebuck and Company
763:
630:
607:
500:mortgage-backed securities
270:in 1981, and was renamed "
103:(as Dean Witter & Co.)
29:
2439:Pace Membership Warehouse
2389:
2366:National Tire and Battery
2306:
2270:
2209:
2188:
2162:
2145:
1732:The Making of the Masters
1385:Egan, Jack (1977-10-04).
1129:
1111:
1104:
1070:
1063:
1053:
736:after the passage of the
710:Wall Street Crash of 1929
668:San Francisco, California
220:
210:
193:
176:
163:
153:
132:
113:
88:
69:
59:
51:
42:
2155:, Chairman (major owner)
1215:The Pursuit of Happyness
563:mergers and acquisitions
2434:Orchard Supply Hardware
2381:Sears Roebuck de México
2361:Martha Stewart Everyday
1695:The New York Chronology
1507:www.fundinguniverse.com
992:on September 11, 2001.
963:initial public offering
784:Richard S. Reynolds Sr.
780:Richard S. Reynolds Jr.
746:Investment bankers case
706:New York Stock Exchange
676:Blyth, Witter & Co.
600:businesses in the U.S.
594:assets under management
512:certificates of deposit
488:Fixed Income Securities
459:- Dean Witter provided
438:New York Stock Exchange
245:New York Stock Exchange
1798:Accessed: June 8, 2010
1589:Dean Witter Foundation
1113:Dean Witter & Co.
1075:(The House of Morgan)
1011:
949:
874:
849:
775:
730:Harris, Hall & Co.
724:
691:San Carlos, California
659:
448:activities as well as
311:
172:$ 1.132 billion (1996)
2520:Sears Holdings brands
2080:The King of Capital:
1942:, September 30, 1992.
1073:J.P. Morgan & Co.
1006:
943:
868:
847:
816:Lausanne, Switzerland
773:
722:
646:
598:investment management
473:institutional clients
303:
256:Dean Witter & Co.
76:Dean Witter & Co.
2336:Dean Witter Reynolds
2180:Richard Warren Sears
2175:Alvah Curtis Roebuck
2064:Kador, John (2005).
1894:, February 21, 1983.
1878:, November 28, 1989.
990:September 11 attacks
974:2 World Trade Center
946:2 World Trade Center
587:limited partnerships
585:investors including
514:. The company was a
415:Shareholder's equity
236:Dean Witter Reynolds
189:$ 951 million (1996)
38:Dean Witter Reynolds
2392:acquired properties
2237:Harry B. Cunningham
2103:, January 30, 1989.
2045:, February 8, 1997.
2029:, February 6, 1997.
2013:, February 9, 1997.
1979:, January 30, 2001.
1910:, December 5, 1983.
1830:, October 21, 2005.
1755:Dean Witter History
1607:, October 30, 1953.
1253:, investment banker
1194:John F. Kennedy Jr.
1192:, sister-in-law of
1168:Morgan Stanley
1132:Reynolds Securities
1060:Morgan Stanley
1038:Acquisition history
766:Reynolds Securities
624:credit card network
540:for the trading of
524:proprietary trading
520:U.S. Treasury bonds
496:U.S. Treasury bonds
432:Securities business
332:
260:Reynolds Securities
212:Number of employees
80:Reynolds Securities
39:
2444:PayLess Drug Store
2222:Joseph E. Antonini
2146:Current management
2101:The New York Times
2043:The New York Times
2027:The New York Times
2011:The New York Times
1977:The New York Times
1956:The New York Times
1940:The New York Times
1924:The New York Times
1876:The New York Times
1860:The New York Times
1844:The New York Times
1828:The New York Times
1814:, October 7, 1982.
1812:The New York Times
1786:, October 4, 1977.
1784:The New York Times
1712:The New York Times
1605:The New York Times
1553:The New York Times
1365:The New York Times
1241:Gretchen Morgenson
1201:, research analyst
1154:(merged 1978)
1012:
950:
883:McKinsey & Co.
875:
850:
776:
742:Justice Department
738:Glass Steagall Act
725:
660:
555:investment banking
549:Investment banking
328:
312:
304:Dean Witter logo,
64:Financial services
37:
2507:
2506:
2419:The Great Indoors
2257:Edward R. Telling
2227:Edward A. Brennan
1926:, October 9, 1981
1628:, April 26, 1971.
1358:Sloane, Leonard.
1175:
1174:
1171:
1159:
1158:
1155:
1147:
1146:
1138:
1118:
1097:
1089:
1088:
1080:
879:Philip J. Purcell
788:U.S. Foil Company
687:Wausau, Wisconsin
579:recapitalizations
571:leveraged buyouts
542:futures contracts
538:clearing services
457:Equity Securities
429:
428:
296:Business overview
233:
232:
216:33,084 (12/31/96)
16:(Redirected from
2592:
2479:Sports Authority
2321:American Freight
2247:W. Bruce Johnson
2217:James B. Adamson
2132:
2125:
2118:
2109:
2108:
2046:
2036:
2030:
2020:
2014:
2004:
1998:
1997:
1992:. Archived from
1986:
1980:
1970:
1959:
1958:, June 19, 1993.
1949:
1943:
1933:
1927:
1917:
1911:
1901:
1895:
1885:
1879:
1869:
1863:
1862:, June 14, 2005.
1853:
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1846:, June 14, 2005.
1837:
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1766:Matthews, John.
1764:
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1277:Companies portal
1274:
1273:
1272:
1257:Thomas J. Wilson
1251:Ronald P. Spogli
1222:Thomas J. Healey
1205:George Davidsohn
1165:
1153:
1137:(est. 1931)
1136:
1117:(est. 1924)
1116:
1107:
1106:
1096:(est. 1935)
1095:
1079:(est. 1871)
1078:
1066:
1065:
1056:
1055:
1046:
1045:
914:American Express
839:Washington, D.C.
714:Great Depression
672:Charles R. Blyth
653:Charles R. Blyth
367:Operating Income
333:
327:
310:
307:
249:asset management
238:was an American
205:
204:
198:
188:
187:
171:
170:
128:
126:
102:
100:
47:
40:
36:
21:
2600:
2599:
2595:
2594:
2593:
2591:
2590:
2589:
2585:Reynolds family
2580:House of Morgan
2530:Brokerage firms
2510:
2509:
2508:
2503:
2404:Builders Square
2391:
2385:
2351:Kmart Australia
2326:Coldwell Banker
2302:
2266:
2232:Charles Conaway
2205:
2184:
2158:
2141:
2136:
2106:
2050:
2049:
2037:
2033:
2021:
2017:
2005:
2001:
1990:"morevalue.com"
1988:
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1983:
1971:
1962:
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1934:
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1898:
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1753:
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1725:
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1714:
1706:
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1701:
1693:James Trager.
1692:
1688:
1679:
1677:
1669:
1668:
1664:
1655:
1653:
1643:Washington Post
1637:
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1632:
1618:
1611:
1599:
1595:
1587:
1583:
1574:
1572:
1564:
1563:
1559:
1555:, May 18, 1999.
1547:
1543:
1534:
1532:
1528:
1527:
1520:
1511:
1509:
1501:
1500:
1493:
1481:
1477:
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1448:Washington Post
1440:
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1401:
1391:Washington Post
1383:
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1370:
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1308:
1303:
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1227:Catherine Meyer
1190:Lauren Bessette
1181:
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1160:
1148:
1090:
1040:
1001:
938:
827:
792:Reynolds Metals
768:
762:
641:
633:
612:
606:
551:
534:order execution
508:municipal bonds
504:corporate bonds
492:order execution
469:equity research
461:order execution
450:order execution
434:
316:consumer credit
308:
298:
240:stock brokerage
213:
194:
181:
149:
124:
122:
109:
98:
96:
84:
35:
28:
23:
22:
15:
12:
11:
5:
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2489:Venture Stores
2486:
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2262:Robert E. Wood
2259:
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2207:
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2177:
2172:
2166:
2164:
2160:
2159:
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2156:
2149:
2147:
2143:
2142:
2139:Sears Holdings
2135:
2134:
2127:
2120:
2112:
2105:
2104:
2094:
2076:
2062:
2057:
2051:
2048:
2047:
2031:
2015:
1999:
1996:on 2007-03-09.
1981:
1960:
1944:
1928:
1912:
1896:
1880:
1864:
1848:
1832:
1816:
1800:
1788:
1772:
1759:
1736:
1730:Owen, David.
1723:
1699:
1686:
1662:
1645:. 1980-10-06.
1630:
1609:
1593:
1581:
1557:
1541:
1518:
1491:
1486:Morgan Stanley
1467:
1434:
1410:
1377:
1347:
1305:
1304:
1302:
1299:
1298:
1297:
1292:
1287:
1285:Morgan Stanley
1281:
1280:
1264:
1261:
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1259:
1254:
1248:
1243:
1238:
1229:
1224:
1219:
1207:
1202:
1196:
1187:
1180:
1179:Notable alumni
1177:
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1157:
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1144:
1141:
1140:
1128:
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1054:
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1044:
1039:
1036:
1024:Philip Purcell
1000:
997:
937:
934:
826:
823:
764:Main article:
761:
758:
689:, settling in
664:Dean G. Witter
649:Dean G. Witter
640:
637:
632:
629:
608:Main article:
605:
602:
575:restructurings
559:Morgan Stanley
550:
547:
546:
545:
527:
516:primary dealer
485:
433:
430:
427:
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323:Morgan Stanley
297:
294:
290:Morgan Stanley
283:Morgan Stanley
231:
230:
224:
218:
217:
214:
211:
208:
207:
206:$ 17.3 billion
199:
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165:
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119:Morgan Stanley
115:
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92:
90:
86:
85:
83:
82:
77:
73:
71:
67:
66:
61:
57:
56:
53:
49:
48:
32:Dean G. Witter
26:
9:
6:
4:
3:
2:
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2450:
2449:Parts America
2447:
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2427:
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2422:
2420:
2417:
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2407:
2405:
2402:
2400:
2399:Borders Group
2397:
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2364:
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2352:
2349:
2347:
2346:Discover Card
2344:
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2337:
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2327:
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2199:
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2181:
2178:
2176:
2173:
2171:
2168:
2167:
2165:
2161:
2154:
2153:Eddie Lampert
2151:
2150:
2148:
2144:
2140:
2133:
2128:
2126:
2121:
2119:
2114:
2113:
2110:
2102:
2098:
2095:
2093:
2092:0-471-21416-7
2089:
2085:
2083:
2077:
2075:
2074:0-471-66058-2
2071:
2067:
2063:
2061:
2058:
2056:
2053:
2052:
2044:
2040:
2035:
2028:
2024:
2019:
2012:
2008:
2003:
1995:
1991:
1985:
1978:
1974:
1969:
1967:
1965:
1957:
1953:
1948:
1941:
1937:
1932:
1925:
1921:
1916:
1909:
1905:
1900:
1893:
1889:
1888:"Halo Effect"
1884:
1877:
1873:
1868:
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1306:
1296:
1295:Discover Card
1293:
1291:
1288:
1286:
1283:
1282:
1278:
1267:
1258:
1255:
1252:
1249:
1247:
1246:Rick Rescorla
1244:
1242:
1239:
1237:
1233:
1230:
1228:
1225:
1223:
1220:
1217:
1216:
1211:
1210:Chris Gardner
1208:
1206:
1203:
1200:
1197:
1195:
1191:
1188:
1186:
1185:Garo H. Armen
1183:
1182:
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1033:
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1005:
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987:
983:
982:1585 Broadway
979:
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970:
968:
964:
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947:
942:
933:
931:
927:
923:
919:
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899:
895:
894:Discover Card
890:
888:
884:
880:
872:
871:Discover Card
867:
863:
860:
855:
846:
842:
840:
836:
832:
822:
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817:
813:
807:
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772:
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731:
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688:
683:
681:
677:
673:
669:
665:
658:
654:
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645:
636:
628:
625:
620:
617:
616:Discover Card
611:
610:Discover Card
601:
599:
595:
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588:
582:
580:
576:
572:
568:
564:
560:
556:
543:
539:
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531:
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521:
517:
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497:
493:
489:
486:
482:
478:
474:
470:
466:
465:stock trading
462:
458:
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447:
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416:
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408:
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286:
284:
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276:Discover Card
273:
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261:
257:
252:
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246:
241:
237:
228:
227:Discover Card
225:
223:
219:
215:
209:
200:
197:
192:
183:
180:
175:
166:
162:
159:
156:
152:
146:
145:San Francisco
143:
141:
140:New York City
138:
137:
135:
131:
120:
116:
112:
105:
94:
93:
91:
87:
81:
78:
75:
74:
72:
68:
65:
62:
58:
54:
50:
46:
41:
33:
19:
2499:Western Auto
2464:Sears Centre
2459:Sears Canada
2429:J.C. Higgins
2335:
2252:Aylwin Lewis
2170:S. S. Kresge
2100:
2079:
2065:
2042:
2034:
2026:
2018:
2010:
2002:
1994:the original
1984:
1976:
1955:
1947:
1939:
1931:
1923:
1915:
1907:
1899:
1891:
1883:
1875:
1867:
1859:
1851:
1843:
1835:
1827:
1819:
1811:
1803:
1791:
1783:
1775:
1762:
1726:
1715:. Retrieved
1711:
1702:
1689:
1678:. Retrieved
1674:
1665:
1654:. Retrieved
1642:
1633:
1623:
1604:
1596:
1584:
1573:. Retrieved
1569:
1560:
1552:
1544:
1533:. Retrieved
1510:. Retrieved
1506:
1485:
1459:. Retrieved
1447:
1437:
1426:. Retrieved
1422:
1413:
1402:. Retrieved
1390:
1380:
1369:. Retrieved
1363:
1213:
1199:Jean Chatzky
1135:
1130:
1115:
1112:
1077:
1071:
1041:
1028:
1020:
1015:
1013:
994:
971:
966:
959:
955:mutual funds
951:
891:
877:Sears named
876:
851:
830:
828:
820:
808:
804:
800:
777:
754:
726:
699:
684:
680:Paine Webber
661:
634:
621:
613:
591:
583:
567:divestitures
552:
477:market maker
442:underwriting
435:
399:Total assets
329:
320:
313:
287:
280:
271:
253:
235:
234:
222:Subsidiaries
196:Total assets
133:Headquarters
117:Merged with
52:Company type
2494:Waldenbooks
2469:Sears Tower
2390:Defunct and
2293:Shopyourway
2082:Sandy Weill
1236:stockbroker
986:Time Square
930:Choice card
902:credit card
835:U.S. states
750:Wall Street
734:Harris Bank
309: 1990
264:Wall Street
70:Predecessor
18:Dean Witter
2514:Categories
2484:Tele-Games
2474:Silvertone
2414:Gala-Sears
2356:Lands' End
2298:Toughskins
2242:Floyd Hall
1717:2018-07-02
1680:2018-07-02
1656:2018-07-02
1575:2018-06-22
1535:2018-06-22
1512:2018-06-22
1461:2018-06-22
1428:2018-06-22
1404:2018-07-02
1371:2018-06-22
1301:References
924:, such as
918:MasterCard
910:MasterCard
481:specialist
383:Net Income
179:Net income
2371:OfficeMax
2331:Craftsman
2308:Spin-offs
2288:Thom McAn
2283:Joe Boxer
2189:Retailers
1651:0190-8286
1456:0190-8286
1399:0190-8286
674:to found
479:and as a
406:$ 15,507
403:$ 17,344
158:Brokerage
2316:Allstate
2163:Founders
1263:See also
926:Citibank
896:, a new
790:, later
786:founded
712:and the
484:sectors.
446:research
422:$ 4,834
419:$ 5,164
358:$ 1,338
355:$ 1,132
154:Products
60:Industry
2454:Prodigy
2409:Eaton's
2341:DieHard
2278:Kenmore
1734:. 1999
873:in 1986
798:(RJR).
631:History
530:Futures
351:Revenue
229:(prior)
164:Revenue
123: (
121:in 1997
97: (
89:Founded
2271:Brands
2210:People
2090:
2072:
1770:. 1994
1649:
1454:
1397:
887:broker
812:Lugano
393:$ 741
390:$ 856
387:$ 951
377:$ 658
374:$ 788
371:$ 506
361:$ 998
55:Merged
2201:Sears
2196:Kmart
1482:(PDF)
898:brand
336:Year
268:Sears
2088:ISBN
2070:ISBN
1908:Time
1892:Time
1647:ISSN
1625:Time
1452:ISSN
1395:ISSN
922:VISA
920:and
912:and
906:Visa
837:and
814:and
651:and
577:and
536:and
510:and
467:and
444:and
258:and
125:1997
114:Fate
99:1924
95:1924
1423:UPI
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900:of
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