Word: hecht
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...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...
ROSENCRANTZ AND GUILDENSTERN ARE DEAD. Beckoned to Elsinore they know not why, Tom Stoppard's neo-Elizabethan protagonists wander through historical events looking for significance and through their lives in search of identity. John Wood, Brian Murray and Paul Hecht share with the audience each nuance of meaning, each streak of mordant...