Word: mosse
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...impossible to consider that the albums will be stashed away to gather moss next to the Glenn Miller '78s of our parents, but it is equally impossible to think that we will continue to respond the way we do. The pace of life has tended to produce instant nostalgia, and this may happen even before the Stones are gone. They might outlive us into another generation that needs then help along the pimply road of adolescence or they might just fade away...
Perhaps the main reason is that good managers are a function of their competition. If the competition is slothful, as it was in some parts of Europe for many years after World War II, management becomes moss-backed. If competition is brisk, management turns innovative. The big entry of U.S. companies into European markets has done much to galvanize home-grown managers into meeting "the American challenge." And the decline of tariffs within the Common Market has made European producers start thinking about the competition immediately beyond their borders...
...Amex-to enable them to handle their own trades and pocket the money they would otherwise have to pay to independent brokers in commissions. Presumably these savings would be passed on to individual investors in the form of lower management fees or sales commissions. The SEC and Representative Moss have made specific recommendations on each issue, but they differ in important detail...
...altered version of the present hybrid system. Brokers must now bargain on commissions with customers who make trades worth more than $300,000, a slight cut from the previous minimum of $500,000. The SEC plans to reduce the cutoff point gradually to $100,000 by April 1974. Congressman Moss, on the other hand, wants to abolish fixed commissions entirely and have fees bargained between broker and investor on every trade...
Both the SEC and the Moss subcommittee would allow institutional membership on exchanges, but under strict conditions that would limit the ability of the institutions to execute their own trades. The SEC would allow brokerage-house affiliates of the institutions to join exchanges only if four-fifths of their business came from the public rather than from the parent institutions. The Moss subcommittee would forbid institutions that joined exchanges from handling any of their own business at all. What the subcommittee wanted to avoid was "devilish bookkeeping" practices that might arise as institutions merged with brokerage houses...