Word: firm
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Dates: during 1960-1969
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Ceauşescu's bold speech made it equally clear that Rumania remains committed to limited independence, doctrine or no doctrine. The Kremlin has so far suffered that policy because it is convinced that despite Ceauşescu's foreign policy, the party maintains firm control of Rumania. As long as the country's skillful leader can hold the delicate balance between Rumania's goals and those of Russia, the Kremlin will probably content itself only with more disapproving speeches. Nevertheless, Katushev's address served Ceauşescu an unmistakable warning...
...Wall Street's most powerful figures; in Sands Point, N.Y. Born to wealth, "Bobby" Lehman might have devoted his life to art collecting and horse breeding, both of which he loved, but his greatest enthusiasm was for high finance-and for 48 years he multiplied his family firm's prestige and fortune. He was one of the first to see the enormous potential of aviation, helped bankroll the beginnings of American, Pan American and Trans World Airlines. He was a friend to retail merchandising when other bankers scoffed, was financial angel to many of today's largest...
...professionals have fared no better. George Miller, senior vice president of the San Francisco firm that manages the $544 million Commonwealth Group of Mutual Funds, encourages his analysts to invest with their own cash. "Virtually without ex ception, they are losing money now," he reports. Dr. Shannon Pratt, director of the Portland (Ore.) State University Investment Analysis Center, estimates that the value of his own stocks has dropped 23% since May-a period during which the Dow-Jones industrial average has gone down 15%. He invests largely in over-the-counter stocks, which rose faster than most listed shares during...
...without a decision, and no final action has been taken on a proposed rule regarding corporate names. Under the rule, a company's registration statement to sell stock would be deemed misleading if the company's name contained such words as "missile" or "space" but the firm did no work in those fields...
...securities industry. His recent actions indicate that he sees little need for a driving pace at the SEC. In May he appointed James J. Needham to fill a vacancy on the commission. Needham, who for twelve years headed the New York office of a North Carolina-based accounting firm, is a complete unknown in the securities industry. SEC staff members fear that he may need lengthy on-the-job training from Judge Budge and others...