Word: backshop
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Weill, who began his career as a Wall Street runner and is universally known as "Sandy," now faces the task of melding the freewheeling Salomon culture into the more cautious Travelers empire. Layoffs seem inevitable. Analysts estimate that as many as 2,000 overlapping jobs--mostly in "backshop" trade-clearing slots--could vanish from a total of 34,000 positions at Salomon and Smith Barney...
...Brokerage houses have automated most of their backshop operations, breaking the paperwork jams that tangled the industry then. For example, stock certificates, which had to be sorted and hand-delivered from one brokerage house to another after each transaction, have largely been replaced by electronic entries in computers...
...Missouri still has plenty of applicants. Some 300 students are majoring in such subjects as news-editorial, radiotelevision, and weekly and small-daily publishing. Since most of its graduates go to work for small dailies or weeklies-fully 30% stay in the state-the school offers noncredit courses in backshop work. Editors have long since been shown by Missouri; the graduating class annually has four times as many job offers as members...
...Future. Staunch Republican Snedden did not always have his magnificent obsession. Growing up in the Northwest, he learned the backshop trades of the news business, mastered the Linotype when he was 14, developed into a skilled doctor of slumping papers, and, incidentally, made a pile in real estate. When he went up to Fairbanks in 1950 to diagnose what ailed the sick News-Miner of Austin ("Cap") Lathrop, Snedden was convinced that Alaska should not seek statehood...
...poster typography, told his editors to shorten the wordy leads on news stories, stop "jumping" stories from Page One. He quickly won the women. First he abolished the old rule against women smoking in the city room. Then he ordered women's lounges installed at once. He gave backshop employes a $3-a-week raise; the rival Scripps-Howard Rocky Mountain News, caught flatfooted, had to follow suit. Last week Hoyt sent a legman legging it on a 13-state assignment to retrieve its famed regional coverage...