Word: gooding
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Dates: during 1950-1959
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Special Assistant Klein's first big assignment will be to handle the Vice President's news chores on the July good-will trip to Moscow. From then on he will be Nixon's press secretary through the 1960 campaign.* And if 1960 should be Richard Nixon's year, Herb Klein might well be expected to move on to the White House as the successor to Presidential Press Secretary Jim Hagerty...
M.I.T.'s good judgment laid the base for the public's extraordinary confidence in the entire industry. When M.I.T. was founded in 1924, it startled the financial world with a brand new idea. Until then, the investment field had been dominated by "closed-end" investment companies; they sold a specific number of their own shares that were traded in the open market, concentrated on quick profits. M.I.T. shunned the lure of the fast profit, concentrated on long-term gains. More important, it threw out the closed-end idea by continually selling shares to anyone who wanted...
Occasionally, the hard trading instincts of M.I.T.'s trustees have softened ever so little. The trustees once decided that the liquor industry was a good investment, decided to try whisky stocks. When Vance, Sanders got wind of the plan, it was horrified. A partner gathered up the cards of 1,200 M.I.T. shareholders, walked into a trustee meeting and threw them on the table. They represented Baptist institutions, Christian Scientists, Catholic convents, and other investors who might take a dim view of liquor-even in their portfolios. The trustees hastily backed down...
...more than 20,000 full-time and part-time mutual fund salesmen, ranging from schoolteachers to bartenders, are selling fund shares. Many of them know no more than their customers about the market, depend on a fast spiel and reams of charts to do their selling. Yet a good part-time salesman can make $10,000 or $15,000 a year in commissions, full-time salesmen up to $25,000. Says Miss Irma Bender, a top fund salesman for Cleveland's Joseph, Mellen & Miller: "I tell prospects that investing in funds is as easy as buying...
Both books may have an odd effect on readers, for they are set in the era before the modern welfare state-capitalist or socialist-encroached on the life of the individual. Whatever the merit of the "good old days," these stories seem to refute the notion that they were happier. In tale after tale, the plots turn on the tragedies of men and women shrugged off by society and left to the mercy of God and the charity of strangers...