Word: marketers
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Dates: during 1950-1959
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Where U.S. troops encamp overseas for any length of time, two things often occur: coveted, cut-rate PX goods appear in the local black market, and the American boys find their way into the hearts of the local girls. South Korea, with its 50,000 G.I.s, is no exception: some $90,000 in U.S. goods vanishes monthly into Korea's flourishing black market, and in Korea no fewer than 575 Korean girls are wives of U.S. servicemen...
Nagging Wives. "Sure, we sometimes sell PX goods on the black market," admitted one. "But doesn't everybody?" Another Korean wife voiced what most of them believed was really behind it all: "The truth is that the American wives dislike us very much. They are race-conscious, and complain they have to stand alongside us for service at PX counters . . . Those who are married to high officers nagged away at their husbands to have something done about...
...dividend checks worth $1 billion for corporations, takes care of investing $6.5 billion in trust funds. Morgan Guaranty runs pension funds for such big corporations as Johns-Manville, Kennecott Copper, Philip Morris, the New York Times. It runs them well. Alexander's current appraisal of the stock market is one of caution; the bank is now putting only one-third of new money into stocks, compared with its normal...
Morgan Guaranty by the custom services and ingenuity in solving financial problems that have become the firm's trademark. Many businessmen agree that Morgan's service is unexcelled. It will do everything from solving the complex problem of establishing the market values of new shares-even though the companies have no established value-to working out a novel method of financing freight cars or oil tankers. After being turned down by several banks, a group of utilities that wanted to finance an atomic reactor turned to Morgan; in a few days, the bank set up the plan...
...When the market collapsed in 1929, Morgan tried to stop the panic as it had managed to do before. It headed a pool that put up a reputed $240 million to support the market. But the move had little effect. While Morgan's interests were relatively unscathed by the crash, the Depression spelled the end of concentrated banking power. The New Deal launched a campaign against "the princes of privilege." J. P. Morgan II was hauled down to Washington to appear before a whole series of investigations. Control of U.S. finance passed from Wall Street to Washington. Regulatory bodies...