Word: funston
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...change went into effect, the Big Board's outgoing president, G. Keith Funston, warned brokers that they would have to start staying after school. "We are expecting our members," he said, "to use this period of curtailed trading hours to concentrate on clearing up the existing problem...
...lower fees, and smaller outfits, which want to raise them. Another problem is that, with 10 million-share days common, the tickers are obsolete and transactions take unnecessarily long. The biggest problem of all for the board of governors, and for Robert W. Haack, who this fall succeeds Keith Funston as president, is whether floor trading can be handled more efficiently by machine than by men; the exchange is considering moving to nearby New Jersey with automated equipment to escape New York City's stock-transfer tax. By its 200th birthday celebration, the speeches may well be made...
...search for a successor to New York Stock Exchange President Keith Funston took a full seven months. This week, unless there is a last-minute change of mind, the Big Board will announce that it has found the man for the $125,000-a-year post. He is Robert W. Haack, 50, who as head of the National Association of Securities Dealers has been policeman of the nation's over-the-counter securities market for the past three years...
Haack's elevation, which is expected to be formally approved by the exchange's 33-man board of governors in May, will come none too soon. Because of Funston's lame-duck status, the Big Board has been more or less marking time in its imminent showdown with the Securities and Exchange Commission, which wants some basic reforms in brokerage commission practices-notably, the elimination of "give-ups," by which brokers doing business on behalf of mutual funds split their commissions. In fact, one reason for the difficulty in selecting a new president was the resistance...
...likely to tax Funston's energies. His duties will include presiding over meetings and, as Funston expressed it, "speaking out on general economic matters." He will be free to sit on other boards where there is no conflict of interest with a broadening company, which deals in 4,500 products, from shotguns to toothbrushes. The new chairman will also be free to pursue such pastimes as archaeology and golf as well as his post of senior warden at Christ Church (Episcopal) in Greenwich, Conn...