Word: crash
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Dates: during 1970-1979
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Inspirational Teachings. As Wilson used to relate. "Down went that strange barrier that had always stood between me and the people around me. Here was that missing link." After the 1929 crash, Wilson tried to forget his losses with numbing doses of bathtub gin and bootleg whisky. His wife went to work to support him. and, as Wilson recalled, his mental disintegration "proceeded rapidly and implacably." Injured after an Armistice Day bender in 1934, he tried to heed the inspirational teachings of the First Century Christian Fellowship (precursor of Moral Re-Armament), but soon went on a three-day drunk...
...cars, other airplanes, mountainsides -and sometimes the vaguely subversive thought that they are scarcely safer now than were 19th century men who took their chances in wagons across Indian country. There might be some intimation of progress in the fact that last week's Trans Caribbean Boeing 727 crash on St. Thomas in the Virgin Islands, in which two passengers died and 54 were injured, was the first and only fatal crash of American scheduled airlines in all of 1970. So superb a safety record suggests that something much closer to complete safety...
...didn't crash the boards enough in the second half," Brown, who snatched ten of his rebounds in the first half, said after the game, "We have to put two good halves of basketball together to win, and we didn't do that tonight," he added...
Since the stock-market crash of early 1970, the biggest noise in the brokerage community has been the sound of the falling ax. On Wall Street, some 35% of the work force has been let go since the market turned bearish. Simply through attrition, Shearson, Hammill & Co. reduced its rolls from 3,300 last spring to 2,800 today. A few firms sliced away a little muscle along with much fat. Some firms fired so many clerks that when trading volume picked up in November, the staff could not process orders on time...
...plan to continue their parsimony. "Any controls that we have installed," says Shields & Co. Vice President Dan Sheehy, "will not lapse when business improves." Adds Senior Vice President Myron Wick of Dominick & Dominick: "You're looking at a permanent change in Wall Street life-styles." Like the Great Crash of 1929, which resulted in a whole portfolio of stock-market reforms, Wall Street's latest decline is likely to leave a lasting impression...