Word: paperworks
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...customers within 90 days, as well as to reduce future prices by a total of $120,000. But Ford's decision to lower prices on its high-volume models, including its LTD, Maverick and Mustang, may well have been taken in an effort to avoid the enormous paperwork that would be required to make a refund to all first-quarter Ford buyers...
...asked that it be given power to oversee the entire process of transferring stock ownership from one buyer to another. The unwieldy process now involves bankers and other transfer agents who are not directly subject to regulation. Failure to coordinate their efforts helped to cause the backlog of paperwork that did much to bring on the 1970 crisis. The SEC also wants the right to disapprove any new rules made by the self-regulatory bodies, to enforce the exchange's rules and, if warranted, to stiffen the penalties meted out by the exchange to erring members...
...ruling is upheld on appeal, the paperwork ahead presents a herculean task. Likely result: fast action by Congress on either Senator Edmund Muskie's or President Nixon's bill, both of which would aim at stopping pollution from cities and factories at its source (before it ever reaches any waterways) and give them a ten-to-15 year deadline to comply. Anyway, something must be done. The requirement just set by the federal court has made the present laws virtually unworkable, since no federal agency can possibly provide a complete environmental report on the effects of discharges from...
...this, says Volpe, "impedes the expansion of international trade and can seriously endanger the nation's ability to compete in world markets." He recommends elimination, simplification or standardization of scores of trade documents. That, he estimates, could reduce paperwork costs by at least 45% and save U.S. importers, exporters and Government agencies $3 billion a year...
Dead Center. Casey's activism is popular partly because it comes at a crucial moment for the securities industry. Brokerage firms are staggering under rising costs and mountainous paperwork; 129 houses have been forced into liquidation or merger. Large money-managing institutions like mutual funds and insurance companies are seeking membership on the New York and American stock exchanges in order to save on brokerage commissions. Because of antitrust prodding by the Justice Department, negotiated commission rates will almost surely have to be extended to cover trades of less than $500,000. Regional stock exchanges and the "third market...