Word: cheevers
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...Office. According to the rules of the New York Stock Exchange, the dividend reduction should have been flashed at once to the Exchange and the Dow-Jones ticker service. Through a series of secretarial slipups, the messages were delayed by nearly an hour. Unaware of this, J. Cheever Cowdin, who was both a C-W director and a partner in Cady, Roberts, telephoned his office and left a message for Gintel about the dividend reduction. For a few moments, Gintel was the only outsider with the news. Instinctively, he sold-and made for his clients and his wife...
...hidden problem of indirect costs, which can drain a university's funds, were a prime concern of the recent Cheever Report on Harvard and Federal Aid. The reported change in policy by the AEC was just a false alarm, according to Wiggins...
This source of pressure, despite cordial relations, is emphasized in the Cheever Report. At present, a rich university like Harvard can have its Faculty refuse short-sighted, dramatic Federal projects. In view of the present trend in educational financing, even the wealthy institutions may lose their power to accept only Congressional grants that also coincide with the intentions of the academic community...
...future, then the universities' ability to lobby in Congress will become more important. The Cheever report simply states that university representatives must be able to convince politicians of the worth of projects that universities want, but again, no specific recommendations follow...
...unreimbursed costs." "In sufficient magnitudes, Federal grants can make a university poorer rather than richer by building up unreimbursed costs (overhead, etc.). More than one Faculty at Harvard has fond it necessary to limit its participation in desirable programs lest their indirect costs drain away its unrestricted income," says Cheever. The report has brought this problem up for debate among those in the community who ought to be concerned...