Wall Street: Learn to Listen

At Bache & Co. Inc., which stands second in size ($90 million gross) to Merrill Lynch, Pierce, Fenner & Smith ($227 million) among U.S.'s brokerage firms, desks are decorated with a motto of the house: "Learn to listen." The man that Bache's 5,000 employees are expected to listen to most intently is Chairman Harold L. Bache, 71, whose granduncle founded the firm 87 years ago. Last week, after Bache President Adrian C. ("Ace") Israel, 50, suddenly resigned because of "a basic disagreement over corporate policy," Wall Streeters were saying that the real reason was that Israel had found himself forced...

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