Word: firmed
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Dates: during 1960-1969
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...personnel fully." Large operations take advantage of the fact that "where entry can be denied to newcomers, centralized price-setting will yield monopoly rewards to those who control the market." More over, the bigger the racket, "the more formerly 'external' costs will become costs internal to the firm"-and thus under better control. One important "cost" is violence. The big firms, says Schelling, "have a collective interest in keeping down violence to avoid trouble with the public and the police...
...collector is known for his judgment. And it is no mean measure that, among those who studied with Harvard's late Paul J. Sachs, no fewer than 16 became U.S. museum directors and curators.* The son of Samuel Sachs, a founder of the Wall Street firm Goldman, Sachs & Co., the 5-ft.-tall connoisseur started his career as a banker and wore a pearl stickpin. But his purchases were not at all conservative, ranging from Rembrandt to Saul Steinberg, Ben Shahn and Alexander Calder. He bought them all, mainly their graphic works, and used his collection to teach...
...oligarchical Gardner family, which bought out the Yardley's in 1883, carefully kept a ruling majority of the voting stock when the company went public in 1920. Least flattered by the BAT bid: Yardley Chairman T. Lyddon Gardner, 62, second generation of the family to head the firm and patriarch of a third generation coming along the company's ranks. Last week, after huddling with Yardley's bankers, N. M. Rothschild & Sons, Gardner urged stockholders to ignore BAT's tender offer. "We are going into battle," he vowed. "I don't see any connection between...
...related question is how much organized crime depends on at least one major market in which the returns to tight and complex organization are large enough to support a dominant monopoly firm or cartel. Not all businesses lend themselves to centralized organization; some do, and these may provide the nucleus of well-financed entrepreneurship and the extension of organizational talent into other businesses that would not, alone, support or give rise to an organized monopoly or cartel...
This view is shared to some extent by the leaders of the Associated Students of the University of California -- the student government -- who supported last month's strike and withdrew their endorsement only when the faculty demanded an end to the boycott. Because the ASUC held firm despite repeated overtures from the Chancellor to speak with their representatives alone, the ASUC is more widely respected than...