Word: brokering
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...surveyors found that one oilman was paying geologists from five competing companies $500 each a month to feed him undercover information. At another company, a switchboard operator intercepted long-distance calls between executives, heard when and where the company planned to buy leases, sold the tips to an outside broker, who grabbed up the leases. In Casper, Wyo., an oil executive quit without turning in his office keys, later was caught fingering through secret maps in another executive's office. The company did not prosecute, but passed around word that made the erring executive as welcome in the industry...
...sugar cut and milled, 200,000 seasonally employed cane cutters and millworkers will join the 400,000 Cubans chronically unemployed and the 160,000 workers made jobless by the construction slowdown. Says a Havana businessman: "The country is going broke in a hell of a hurry." Said a sugar broker: "Cuba is being reduced from a first-rate nation with a sound peso to a third-rate nation...
...Papa of Dada. Harold Loeb changed more patterns than most. His father was a Wall Street broker, his mother a Guggenheim. Like his cousin Peggy Guggenheim, Harold found the climate of wealth intellectually suffocating, the security guilt-edged. After working in a construction gang in Alberta and tending a bookstore, Harold found himself, in 1921, by founding Broom. Names famed and forgotten spill from Author Loeb's pages like unstuck pictures from a family album. There was Ezra Pound, "dressed like one of Trilby's companions" in "black velvet jacket and fawn-colored pants"; James Joyce, dour...
...management of a Canadian fund; it has 145,000 shareholders and total assets of $634 million. Founded in 1950 to take over management of the United Fund series, it is run by Cameron Reed, who concentrates on administration and sales from his Kansas City office, and New York Broker Chauncey Waddell. ¶ Lord, Abbett & Co., of Manhattan, was brought into the fund field in 1932 by Andrew J. Lord, who was killed when his horse threw him in 1946; it is now run by humor-loving Harry I. Prankard, 56, the author of several books on accounting. It manages...
Nevertheless, some critics insist that buying a mutual fund is just buying a piece of the Dow-Jones industrial average, point out that the top five common stock funds just kept pace with the averages in the seven-year bull market. But Broker Arthur Weisenberger, the Boswell of the industry, whose brokerage house puts out the definitive yearbook of the funds, argues that an investor could pick a slow mover even in the stocks in the blue-chip Dow-Jones averages. Only 14 of the 30 stocks have done as well as the 229% gain in the averages...