Word: marketeers
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Dates: during 1960-1969
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...well prove to be the most successful proposals of the committee, following as they do one of its implicit guidelines: concentrating on projects which provide substantial benefits for the University as well as aid to the community. The committee notes that, although Harvard has traditionally enjoyed a buyers market for labor, it now has increasing difficulty in finding workers, particularly the blacks now demanded by various departments of the University. Financial constraints will probably continue to keep Harvard's pay scales lower than those of many private industries, the committee writes, and so "Harvard, to get the employees it needs...
...M.L.A.'s annual meeting in Manhattan, while most of the professors attending were socializing or seeking new jobs in the famous academic "slave market," a phalanx of activists from the New Left suddenly seized control. Before most members knew what was happening, the staid old association found itself passing resolutions opposing the "illegal and imperial" Viet Nam war, counseling opposition to the draft and denouncing government repression of such writers as LeRoi Jones and Eldridge Cleaver. For good measure, the dissenters also voted to table a proposed new constitution...
...great importance of monetary policy has been demonstrated lately by the stock market. Brokers normally count on a year-end rally, and they have been disappointed only six times in the past 41 years. Last week was one of those times. Mostly because of the Federal Reserve Board's recent moves to make money scarcer and costlier to borrow, the latest slump in stock prices stretched out to a full month...
...vulnerability of some so-called "growth stocks" shows up in the ratio between share prices and corporate earnings. Such issues now sell in the over-the-counter market at an average of 40 times their per-share profits, a height last reached shortly before the market's 1962 plunge. Since 1966, the average price-earnings ratio of American Exchange stocks has jumped from 10-1 to 26-1. By contrast, the Dow-Jones industrial average finished 1968 at a level only 16.7 times the average per-share earnings of its stocks, down from 17.2 a year earlier. The decline...
Still, the stock market's major concern is how fast the Federal Reserve will tighten up the money supply in its campaign to squelch the pressures and psychology of inflation. Rising taxes will make the battle easier and will siphon funds away from investors. On Jan. 1, Social Security taxes went up by $3.6 billion a year. By April 15, taxpayers must give Washington an extra $11 billion in catch-up payments for the second quarter of 1968, when the 10% income-tax surcharge was not withheld from salaries. With a shrinking federal deficit also sucking steam from...