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Guide opening:
Director Oliver Stone dedicated this 1987 film dealing with Wall Street greed and
redemption to his father, himself a stockbroker. In the movie, a bright young broker falls
under the spell of a master market manipulator, the unscrupulous Gordon Gekko. Don't
expect fairness or balance in Stone's film. Released in the heyday of Ivan Boesky and
Michael Milken, Wall Street examines the harm that can result from unchecked
greed. Despite its polemics, the movie illustrates a number of sound business practices
and raises issues of personal and corporate ethics that can help you sort out your own
approach to success in the world of high finance.
Excerpt from the plot summary:
Young Bud Fox (Charlie Sheen) is the son of an aircraft mechanic (played by his real-life
father, Martin Sheen). Bud has chosen a career as a stockbroker. When we first see him, he
is cold-calling clients to push his firm's latest hot stock. He's also trying to bring a
new client to the firm: the illusive and legendary Gordon Gekko (Michael Douglas).
Bud has chutzpah, but can't find a play interesting enough to get Gekko's
attention. Having no luck reaching Gekko by phone, he plans an assault on the great man's
office. Having marked Gekko's birthday on his calendar, Bud takes Gekko a birthday
present: a box of the coveted Cuban cigars Gekko is known to like. Bud gets his 15
minutes, though it's interrupted by phone calls that Gekko answers with quick buy-sell
orders. Gekko then criticizes the stocks Bud has touted and tells him he's looking for
something special, something no one else knows. Bud breaks a personal confidence from his
father and passes along the news that Blue Star airlines has been vindicated in a
long-running lawsuit. "Not even the plaintiffs know yet," Bud boasts. He tells
Gekko that the ruling will enable the company to upgrade its equipment and go after new
routes, which they are certain to obtain. The information has been released to Blue Star
by its attorneys and shared in confidence with the heads of its unions, one of whom is
Bud's father. It's insider information and illegal as hell. Gekko is intrigued, tells Bud
he'll check it out and sends him out the door. Later in the day, Gekko places a large
order for Blue Star through Bud.
Summary of the commentary:
Our commentary examines the art of the hostile takeover, Gekko-style. The Guide contrasts the destructive Gekko with his reformed nemesis Sir Larry
Wildman. Wildman is anxious to find a takeover target he can revitalize, not strip. Gekko
doesn't care about revitalization, but he is vindictive enough to force his long-time
rival to overpay for his dream by driving up the price of the stock (and making a good
deal of money for himself in the process). Additional commentary looks at the role of the
stock market in the economy, covers the difference between fundamental analysis and
charting, examines market manipulation scams, goes over insider trading rules, and
discusses the nature of business ethics and examines why experts can't agree, in many
cases, on whether some practices shown in the movie are ethical or not.

The commentary is supplemented by BREAKOUT BOXES dealing with these topics:
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Right Idea, Wrong Application |
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Wall Street's Deals |
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How Brokers Get Into Trouble |
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A "Real" Life Parallel |

THE GUIDE also includes an essay that looks at business as depicted in
the movies. For an introductory section on how to use the Management Goes to
the Movies program, click through to Using The MGTTM Training Program.
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