Word: musts
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Dates: during 1960-1969
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...strenuously imaginative production some experiments must fail. Director Kahn has the leaders of France actually speak French while a man and a woman translate into microphones and loudspeakers simultaneously, in U.N. fashion. The effect is clever but distracting. On the other hand, a sense of the seeming invulnerability of the French forces is aptly conveyed by having them outfitted like hockey goalies. Initially, this creates the illusion of invincible force, but later it is revealed as the symbol of futile totalitarianism...
...must resolve at least three basic problems. They concern not only market professionals but also the 26.5 million Americans who own shares directly and the 100 million who participate in stock trading through mutual funds, pension funds and trusts. First, the 642 brokerage firms that are members of the exchange have not yet cleaned up the back-office paperwork mess that since last June has kept the Big Board from conducting a normal 271-hour trading week. In addition, commission rates that member brokers charge to stock traders are under attack by the Justice Department, the Securities and Exchange Commission...
...COMMISSION FIGHT. This is the issue with the greatest impact on investors' wallets, and one that the exchange must resolve in the next year or so to appease Government regulators. Under intense pressure from the SEC, it enacted a 7% volume discount on big block trades last year, but the cut was too small to please anyone. The Justice Department advocates scrapping the brokers' jealously guarded system of fixed minimum commission rates -which now range from $6 to $75 for every 100 shares traded, depending on price-and letting every broker charge whatever he can persuade customers...
...prospective change with the greatest long-range potential for reshaping the structure of Wall Street. The need is clear. Despite the rich commissions, member firms lack capital for long-term needs such as back-office automation, and several recently had trouble complying with an exchange rule that capital must equal at least 5% of debts. They must now rely on internal growth and borrowings...
Bill Zimmerman, 27, New York University, will return to his native Baltimore and try to help build it up as a vice president of Commercial Hardware Inc., a small distributor of construction materials. He argues that the construction industry must be radically changed and modernized, and he has written two papers on ways to apply computers to do it. "The current system, under which materials are bought piecemeal, maximizes costs instead of profits," he says. "Building design can be programmed into a computer, and the more prefabrication you can accomplish, the less costly the building will...