Word: overhaul
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Dates: during 1960-1969
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...group found few outright abuses of the stock market's rules, but its recommendations struck deeply at five major areas (see box on next page) that make up the very heart of the market, promised the most sweeping overhaul of Wall Street since the Pecora investigation set up the SEC 30 years ago. The SEC recommended that trading in stock issues that are "unlisted" on any exchange be automated and perhaps made cheaper for the investor, and that the cost of trading in "odd lots" of fewer than 100 shares be lowered. It asked for closer regulation...
Business School Overhaul...
Reviewed in grim detail were the technical problems that had kept Thresher in overhaul for nine months at the Portsmouth Naval Shipyard. The sub's defects, witnesses insisted, were remedied before the ship took to sea for its post-overhaul cruise. But, tragically and all too obviously, something did in fact go wrong. And the list of Thresher's troubles was indeed formidable. Items...
...main seawater valves, used mostly to bring in water to cool the nuclear reactor system, had not been closing properly. So many valves were switched around during Thresher's overhaul that in one simulated dockside emergency, it took 20 minutes for the sub's crew to find the valve necessary to cut off the flow through a "broken" pipe. Yet in the actual diving conditions during which Thresher died, survival could come only with the crew closing off such a flow within seconds. »The air pressure system had been leaky. To surface in an emergency, a submarine...
...race. (Candy Spots prefers to run this way; he has a tendency to get lazy when he is leading.) Near the wire, No Robbery will have faded out of contention, Never Bend and Chateaugay will be wearing each other out in the stretch run, and Candy Spots will overhaul the leaders in the last sixteenth...