Word: burnham
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...kinds of meat substitutes and stuck to them-at least for the week. Many stocked up on poultry. Said the sales manager of a major West Coast food chain: "It looks like Christmas in our warehouses-turkeys and fryers are really moving out." A Los Angeles shopper, Jane Burnham, pledged: "I'll boycott until I grow feathers from eating so much chicken." Others seemed to be willing to sprout scales. Fish sales rose sharply, driving up the price of filet of sole to $2.90 a Ib. in many places, exceeding the cost of porterhouse steak...
Negotiated commissions would probably be a fiction for most individual investors. I.W. Burnham II, senior managing partner of Burnham & Co., a Manhattan-based investment house, says that "negotiation for the public is not in the cards" because the small investor has little bargaining power. Institutions, though, have plenty; they have already bargained commissions down an average 50% from the old fixed-rate schedule on the biggest trades. Many Wall Streeters fear that an extension of negotiated commissions would cause another wave of brokerage failures because rich brokerages would underbid weak ones for the all-important institutional business. Nevertheless, some major...
Meanwhile, Burnham and his Daily News competitor, William Federici, were sniffing out the story independently. At one point Seymour offered to fill in Burnham on an off-the-record basis, but the reporter declined and went on to gather the details on his own. In a later conversation, Seymour made what he now calls a "serious mistake": he informed Burnham of the arrangement with LIFE. "We really treated him like a brother," Seymour told TIME Correspondent James Willwerth. "We considered him one of the good guys out to help reform this problem." Trying to protect Leuci, Seymour pleaded with Burnham...
Seymour started the inquiry 14 months ago as a result of work by the Knapp Commission, a special body investigating New York City police corruption that came into being almost entirely because of articles by veteran Investigative Reporter David Burnham in the Times. Going beyond the Knapp group, Seymour used City Detective Robert Leuci as an undercover man, gathering evidence of payoffs and other malfeasance. Eventually the prosecutor assembled a force of 40 local and federal agents who made liberal use of underworld informants. He anticipated a huge haul, but Leuci got restive. He was in danger much...
...Rosenthal's argument contains an important flaw. The Times story last month did not uncover corruption; it disclosed an investigation of corruption that was being diligently pursued. When pressed last week for his opinion about whether the inquiry had been damaged, Burnham replied: "I don't know. It's a matter of judgment, and Seymour has all the information." Seymour now expects perhaps ten indictments instead of the dozens he had originally anticipated. "If Leuci can produce ten cases," he lamented, "think how many cases ten others might have produced...