Word: hecht
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Dates: during 1960-1969
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...start" in newsman roles in The Front Page on Broadway in 1928 [Oct. 25]. His acting career actually began two years earlier, in the Jed Harris production of Broadway, playing the hoofer in that show and making an even bigger hit than he did as Hildy Johnson in the Hecht-MacArthur show. "Look at the personality I got" became a byword in the '20s, and he was already a made man by the time the other show came in. Earlier, with Charlie Bickford, just before Broadway, he played a minor part in Glory Hallelujah, opening the show with...
...Bertha Hecht, a 66-year-old widow in San Mateo, Calif., turned over her inherited portfolio of blue-chip stocks worth $533,161 to a representative of Wall Street's venerable Harris, Upham & Co. Seven years later, she found her fortune cut in half. She is still fighting to recoup her losses...
...exercise proper and adequate supervision" over its San Francisco branch. The committee ruled that Harris, Upham be fined $50,000 and that the San Francisco office manager, Arthur R. Mejia, be suspended for five days and fined $5,000. In addition, Asa V. Wilder, the broker who handled Mrs. Hecht's account and who has since left the firm, was fined $10,000 and had his registration revoked. Harris, Upham has 30 days to appeal the decision to the N.A.S.D. board...
Earlier this year, a California federal court judge, William T. Sweigert, claimed that if Mrs. Hecht's portfolio had been left untouched from 1957 to 1964, its value would have increased from $533,161 to $1,026,775. Instead, her account plunged to $251,308. The judge found that Mrs. Hecht's account had been "grossly and unfairly churned" by more than 10,000 transactions in an effort to generate commissions. Judge Sweigert therefore ordered that the firm pay Mrs. Hecht $504,391 in damages. Harris, Upham is appealing that decision...
...event, Mrs. Hecht paid Harris, Upham a total of $232,000 in commissions and interest on margin loans. Not surprisingly, the California widow was one of Harris, Upham's best customers in that state; in fact, for seven years she accounted for 4.7% of the San Francisco office's revenue...