Word: banke
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Dates: during 1960-1969
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...concerned with pressing problems here on earth, while they ignore the egregious crimes of Viet Nam and our military, which dwarf the space program both in money and lives that have been squandered. These pious critics are akin to a policeman who arrests a jaywalker while ignoring a bank robbery...
...their idealism, young men want -and get-record salaries. "The young employee is more rapacious these days," says Robert E. Cody, a vice president of California's Security Pacific National Bank. "The fact that his boss worked 20 years to get where he is does not move him." George T. Henning, 27, assistant to the comptroller of Boston's Eastern Gas and Fuel Associates, agrees. He earns $17,000 and intends to be making $45,000 by the time he is 35. George Woodland, vice president of Milwaukee's Rex Chainbelt Corp., complains: "A lot of these...
...manages more "O.P.M.," or Other People's Money, than Manhattan's 116-year-old United States Trust Co., one of whose few advertising themes is "Planned silence is essential to a trust company's character." Evidently, silence is also golden. A recent study by the House Banking and Currency Committee reveals that U.S. Trust, which is really a commercial bank, directs the destinies of $11 billion in personal trust and investment money. O.P.M. last year brought the company nearly $18 million in fees and commissions. That, plus income from investments and interest on loans, lifted revenues...
...bank's analysts handle more than 11,000 personal and institutional investment accounts, each of which usually must have a minimum of $200,000. Portfolio managers service the proverbially helpless richman's widow as well as the young business-school graduate who uses his M.B.A. training to turn the modest old family firm into a gold mine. Real estate experts on the bank's 1,200-man staff will advise on matters like buying a villa on the Mediterranean. The bank also lends money for many investments. Altogether, the company charges the usual brokerage commission plus advisory...
Thurmond Shaddix, a bank clerk in Atlanta, bought the stock of a machinery-parts manufacturer, Breeze Corporations, at 20. When the shares hit 37 in May, he asked his broker if he should sell. The broker advised holding for larger gains. The price has since dropped to about 14, giving Shaddix a 30% loss on an investment that once showed an 85% profit. "I'm really burned about that one," says Shaddix, who also has a small loss in some blue chips...