Word: pensioners
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Dates: during 1970-1979
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Schorr, 60, will be paid his full salary (close to $70,000 a year) through 1978, when he will begin receiving a pension. He plans to give speeches (at $3,000 each), lecture next spring at the University of California (Berkeley), and finish a book. Schorr is free to leave the CBS payroll and join another network, but he insists that he is finished with television. Says he: "I have a terrible hunger for direct contact with people, and I want to see those little words in print that I can go back to next day and say, That...
Died. Marion B. Folsom, 82, former Secretary of Health, Education and Welfare in the Eisenhower Administration; in Rochester. As an executive of Eastman Kodak during the 1920s, he was a leading proponent of corporate unemployment and pension plans; the programs he established at Kodak and other Rochester firms became models for the nation. During the Depression, Folsom helped frame federal unemployment programs and the Social Security system, acknowledging that private resources were no longer adequate. His HEW tenure (1955-58) was marked by a greatly expanded budget for programs such as federal aid for school construction...
...gardening was making her rheumatism worse. She became quieter and less flighty. But her methods of detection were always the same. Where Poirot used his "little gray cells," Jane Marple extrapolated from her knowledge of St. Mary Mead. A swindler? She remembers Mrs. Trout, who "drew the old-age pension, you know, for three old women who were dead, in different parishes." A cruel murderer? "Mrs. Green, you know. She buried five children- and every one of them insured...
Nonetheless, brokers do worry about Chemical's move. They see it as a direct assault on the Street's retail commission price structure, which was set up for the average investor. Big institutional investors-banks, life insurance companies, pension funds-have long received the benefits of negotiated commissions, and the SEC more than a year ago abolished what few vestiges there were of the old fixed-commission system. But the typical small investor, lacking the muscle of large institutions, received no such break on commissions and in many cases pays even more to buy or sell stock today...
...rest decades ago, that dividends flow mainly into the pockets of wealthy individuals. Actually, there has been a historic if little heralded shift in the pattern of share ownership. In terms of dollar value, nearly half of all corporate shares these days are owned by institutions such as pension funds, insurance companies, college endowments, even churches. Without even realizing it, millions of Americans rely on corporate strength for their own future security. The assurance of a retirement income, the soundness of an insurance policy, the availability of a college scholarship-all may well depend heavily on the continued profitability...