Word: ledgers
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With the rise of computer punch-card accounting and the decline of the clerk's pen-entry ledger, company comptrollers have relaxed in a new atmosphere of mechanical morality. They have been confident that neither false entry nor ink eradicator could juggle the electronic accounts. But last week, Walston & Co., one of Wall Street's largest brokerage firms, found that the computer is no more honest than the hand that feeds it. In eight years, Walston Vice President and Computer Specialist Frank B. Haderer, 50, had stolen more than $260,000 from the electronic till, to become...
...spending side of the ledger, national defense, to which $41 billion (almost the same as in fiscal 1960) was allotted, would as always claim the hugest chunk of federal money-and again, as always, was likely to be the most hotly debated part of the budget (see below...
...while it looked as if Cornish was the man; a year ago, Publisher Whitney put him in charge. But within months, without advising Cornish, Whitney reached out to Mexico, Mo. to bring in Robert M. White II, 44, publisher of the Mexico Ledger, as editor and president of the Herald Tribune. Said newly appointed Editor White: "George didn't know I was coming until just before I came." When Cornish heard of it, he submitted his resignation, conscientiously volunteered to stay on until Whitney found a successor...
...Miller's most mailable literary essays is typical: "Joyce, the mad baboon, herein gives the works to the patient antlike industry of man which has accumulated about him like an iron ring of dead learning." In a collection of aphorisms, the reader learns that "in life's ledger, there is no such thing as frozen assets." If the sage of Big Sur were to be judged from this book alone, it would be hard to justify Editor Durrell's prophecy that Miller may one day be classed with Whitman and Blake...
With cold ledger logic, Boss Berlin has dumped unprofitable properties, e.g., the Chicago American in 1956, the International News Service in 1958, and forced idle properties to produce, e.g., by logging Hearst's 67,000-acre northern California sanctuary, Wyntoon, for an estimated $2.000,000 annual return. Berlin has also invested in new properties whenever the risk looked good. Hearst's stable of 13 magazines, one of the relatively few consistent moneymakers in the empire, has grown by the addition of Sports Afield (1953) and Popular Mechanics (1958). With Avon (117 new titles last year), Businessman Berlin picked...