Search Details

Word: board (lookup in dictionary) (lookup stats)
Dates: during 1960-1969
Sort By: most recent first (reverse)


Usage:

...former Dartmouth English instructor, wartime OSS and CIA official, and owner of the Oceanside (Calif.) Blade-Tribune (which he purchased in 1954 with the help of a $100,000 loan from Nelson Rockefeller and sold profitably last year). A Kennedy liberal, Braden headed California's board of education, a post in which he clashed often with Max Rafferty, the reactionary state superintendent. This journalistic odd couple-Braden is tall, wiry and intense, Mankiewicz is short, round-faced and bemused -launched their project in the belief that most columns "are lousy" and fail to express a "sense of outrage...

Author: /time Magazine | Title: Columnists: Washington's Third Pair | 8/15/1969 | See Source »

...trading on the New York Stock Exchange agreed to join forces as "a matter of economic necessity." De Coppet & Doremus and Carlisle & Jacquelin said that their decision was forced by in creasing costs plus dwindling odd-lot trading, which now amounts to less than 10.7% of the Big Board's volume. Other merger plans have undoubtedly been hastened by the tendency of small investors in a declining market to with draw from direct trading and turn their business over to mutual funds and other professional investment management services (see following story). A great deal of Wall Street...

Author: /time Magazine | Title: Wall Street: Blue Days for Brokers | 8/15/1969 | See Source »

...their capital from the outside. Though Nuveen plans to continue its brokerage activity through the Midwest Exchange, which has more lenient rules, the firm has laid off some 10% of its 450 employees. Meanwhile, McDonnell & Co., beset by financial and operating problems, recently sold one of its three Big Board seats (for $375,000) and laid off 70 employees, including about half of its research staff. To increase its capital to the level required by the New York Stock Exchange, the firm also borrowed $600,000 from another brokerage house, Scheinman, Hochstin & Trotta, and arranged for up to $10 million...

Author: /time Magazine | Title: Wall Street: Blue Days for Brokers | 8/15/1969 | See Source »

...Snarl. Brokers' profits have also been reduced by the high cost of battling Wall Street's paperwork foulup, which for nearly two years has snarled delivery of shares from broker to broker and from broker to customer. The number of employees involved in securities processing for Big Board firms rose 36% last year, and average clerical salaries climbed 12%. In a belated rush, brokerage houses are investing more than $100 million a year in automated equipment...

Author: /time Magazine | Title: Wall Street: Blue Days for Brokers | 8/15/1969 | See Source »

Computer Breakdowns. An obvious solution to the back-office snarl would be to computerize the transfer of securities among brokerage firms, thus converting a cumbersome manual task to a mere bookkeeping operation. The Big Board started a Central Certificate Service in February that is intended to operate as just such a clearinghouse. But computer breakdowns and other snags slowed the system until last week, when the C.C.S. resumed full operation. The brokerage business may face more financial woes before happy days return. Profits seem likely to continue their fall until rising stock prices bring an upturn in trading volumes...

Author: /time Magazine | Title: Wall Street: Blue Days for Brokers | 8/15/1969 | See Source »

Previous | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | Next