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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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time
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092589
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09258900.013
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1990-09-17
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BUSINESS, Page 57Business NotesSTOCKBROKERSA Ringing In His Ears
Merrill Lynch was bullish on Alan Schlesinger as a prospective
customer, but the company's brokers pushed him a little too far.
Five years ago, the suburban Boston lawyer began an epic campaign
to stop Merrill Lynch's brokers, as well as numerous rival callers,
from peppering him with phone pitches. First he wrote a polite
letter asking the company to desist, but still the calls came. Then
he wrote a more threatening note, and still the calls came.
Schlesinger then sued the brokerage for invasion of privacy in
Massachusetts county court and won the case last June (Merrill
Lynch is appealing). The judge issued an injunction prohibiting
Merrill Lynch from calling Schlesinger, yet barely two months
later, a Merrill Lynch broker rang him up. The attorney filed a
complaint for contempt of court, and Merrill Lynch was ordered to
pay $300. Said a spokesman: "We tried everything to keep Mr.
Schlesinger's name off the lists. But we have 12,000 brokers. One
of the calls slipped through."