Word: boards
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Dates: during 1960-1969
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Andrew Heiskell, LL.D., chairman of the board, Time Inc., and co-chairman of the Urban Coalition...
...special hag to her poets, chasing them and censoring them like a worn-out scold. But that war is nearly over. A middle class, as conventional and tolerant as anybody's, is now growing up in the cities, and the Charm is being taken over by the Tourist Board. Bogus castles, renovated pubs and professional colorful characters may be all that survive of it, unless the Irish pass a miracle that has defeated other folk people and keep the flower without also keeping the dunghill it grew...
...distorted the entire economy. It has forced the Government to raise taxes, curtail its spending for social programs and reduce the supply of money. One result is that interest rates have climbed to their highest levels in a century, spreading turmoil in the financial markets and discomfort in corporate board rooms. Businessmen gloomily foresee a slow year for profits. Consumers, despite their affluence, feel financially strapped and vexed to the point of outrage at the soaring prices they must pay for both the necessities and the luxuries of life. President Nixon says that an attack on inflation is his number...
Chairman William McChesney Martin of the Federal Reserve Board warned that without the surtax "we cannot succeed" in slowly controlling today's "critically serious" inflation. Sitting at his side, Treasury Secretary David M. Kennedy* declared: "The problem is much more difficult than I realized. We can't let this escalate into runaway inflation, and we're very close to that now." If Congress allows the tax to expire, he added, the economy could race far enough out of control to create "the possibility of a serious recession." To prevent that, Secretary Kennedy warned that the Government would...
...troubles are coming to a head now because there has been an enormous growth in trading volume. An average of 13 million shares daily changed hands on the Big Board last year, or 21 times the total that exchange officials once expected to be reached in 1980. A rising proportion of the trading is done by institutions, for which the exchange's trading mechanisms and commission structure are ill adapted. Haack estimates that institutional trades now generate 50% of all commissions on his New York Exchange. Whether the exchange can hold this business against rising competition from other markets...