Word: funded
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Dates: during 1960-1969
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...hear Jack Benny's violin act which, like his familiar monologues, is a masterpiece of comic tim ing. Benny, 75, and his fiddle have raised well over $5,000,000 at similar benefits, and this one netted $14,000 for the Aspen Music School Scholarship Fund. Unfortunately, Benny lamented, not all patrons are kind enough to suspend their critical faculties. "In Philadelphia, a woman stood up and exclaimed, 'My God, he's lost his ear.' Ever since then, they've called me the Van Gogh of the violin...
When Skolnick was 34, his parents lost a lawsuit against a brokerage house that they had accused of frittering away a stock fund set up for their son. Skolnick, now 39, recalls: "I kept running into judges who seemed unfair, dishonest and politically motivated." He was so embittered that he set out to improve Illinois justice by investigating judges and reforming the system under which they are elected in the state. The son of an immigrant garment cutter from Russia, Skolnick dropped out of Roosevelt University, where he was an A student but required special transportation to the campus, which...
Lending Is Not Enough. To the policyholder, the most noticeable result has been that his insurance agent now frequently tries to sell him mutual-fund shares. About 150 of the insurance companies have bought mutual funds, started their own or concluded agreements to have their insurance subsidiaries help sell the shares of independent funds. Ten years ago, most life-insurance salesmen were discouraged from selling mutual-fund shares at all. Last year, the National Association of Securities Dealers has registered at least 15,000 life-insurance salesmen, about 7% of the total number...
...Congressmen as diverse as South Carolina's hard-drinking Mendel Rivers and Harlem's high-living Adam Clayton Powell are still able to ride out allegations of impropriety. Where money is concerned the public is more exacting. As a Senator from Massachusetts, Daniel Webster maintained a private fund that had been collected from wealthy businessmen. He was criticized for it, but he had nothing to worry about: he was elected by a state legislature dominated by these same businessmen. In 1952, when it was disclosed by the press that Richard Nixon had a similar fund, he was saved...
Costly Misjudgment. The union's members are also challenging their leaders. Two weeks ago, 78 miners and miners' widows filed suit against the U.M.W. in federal court, asking for $75 million in damages. They charged the U.M.W. with conspiring with its welfare fund, with the union-owned National Bank of Washington and with the Bituminous Coal Operators Association to defraud them of their pensions through fiscal mismanagement and the manipulation of union funds for private gain...