Word: openings
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Dates: during 1950-1959
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...York subway is clearly out of his depth. He boards it bearing a pretty bunch of posies and a confident smile; both disappear as the subway doors close on the posies. It takes him forever to figure out on which side of the train the doors will open next, and when he does, he is sandbagged by a horde of inrushing travelers. By the time the train clears and he can escape, he has fallen asleep on his feet...
...extraordinary confidence in the entire industry. When M.I.T. was founded in 1924, it startled the financial world with a brand new idea. Until then, the investment field had been dominated by "closed-end" investment companies; they sold a specific number of their own shares that were traded in the open market, concentrated on quick profits. M.I.T. shunned the lure of the fast profit, concentrated on long-term gains. More important, it threw out the closed-end idea by continually selling shares to anyone who wanted to buy, redeeming them when anyone wanted out at the net asset value per share...
...money to use. Bankers give him much of the credit for a new New York State banking law passed in 1950 that enabled savings banks to invest part of their assets in stocks. He was the first president of New York's Institutional Investors Mutual Fund, an open-end stock fund for mutual savings banks that now has assets of $46 million. With it all, he was an easy man to work for: friendly, outgoing, a delegator of responsibility who enjoyed calling his staff "my family." Says one Union Dime executive: "I've never gone to any convention...
...Like I don't want to bug you man, if you're busy . . . Are we gonna blow some poetry, maybe?' . . . He shambled in, mumbling his little high-pitched murmurs, half-words, more for sound than meaning. Itchy scratched because he had no skin; he was open to the world as a turtle without a shell, sensitive to all the world's hurt and all the world's love...
...more pedestrian note, the Alosp brothers concentrate nearly a third of their book, The Reporter's Trade, on an attack on bureaucratic secrecy regulations and devote the rest of their space to smug discussion of how they got around these regulations. Their opening chapters on what it is like to be an aristocrat and a reporter, how Washington reporting has changed, and the mortal penalty a society pays for not facing its big decisions in the open are only occasionally either penetrating of powerful. The selected columns which make up the body of the volume are neither effective records...