Word: netful
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Dates: during 1960-1969
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...year commission income. Much of that money would then remain in the coffers of big institutional investors, indirectly enriching thousands of mutual-fund shareholders and pension-fund contributors. Brokers should be able to bear the loss: soaring trading volume has deluged Wall Street with profits. Last year the net earnings of Merrill Lynch, Pierce, Fenner & Smith, the largest U.S. brokerage house, jumped 25% to $54.6 million, as its operating revenue, mostly from commissions, climbed to $369 million. Profits at Goodbody & Co. rose 78%. The volume surge means that crack securities salesmen today often earn $100,000 a year...
...decade ago, TV Producer-Perform er David Susskind was generating some bright cultural rays with quality net work dramas and a provocative new talk show, Open End. At the same time, California Industrialist Norton W. Simon, president of Hunt Foods & In dustries', was making commercial his tory by buying up one new company after another. Since then, Susskind has been putting somewhat less emphasis on culture, and Simon has become in creasingly interested in it. Stung by a number of critically acclaimed produc tions that proved to be financial flops, Susskind has expanded into bread-and-butter situation shows...
Imagine a golf nut stationed in the Soviet Union, with nary a golf course in sight. That's how it was for U.S. Ambassador Llewellyn Thompson until friends in the United States Golf Association heard of his plight and rushed a portable driving net to Russia. It was promptly installed outside the residence, tensions eased, and Mr. Ambassador is happily walloping golf balls. Joseph C. Dey Jr., executive director of the association, sees it as "the beginning of a new and insidious invasion of Moscow." After all, the bug is catching...
...wire, however, they found old habits hard to discard, including the absurdity of four seconding speeches even for favorite-son candidates. All the Republican National Committee had really done was to delay the proceedings until prime time and to limit the seconding speeches for candidates to five minutes. The net works found themselves reporting a spectacle whose script they were basically powerless to enliven. As NBC's John Chancellor noted in retrospect: "Conventions were structured and their main patterns made up when people got their information from newspapers. Today we are seeing something that was made for a newspaper...