Word: sec
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Dates: during 1980-1989
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Reed vigorously denied the allegations, but in December 1981 he signed an agreement with the SEC putting his profit in escrow pending the outcome of private litigation; later he promised to donate the funds to charity. In January 1982 his old friend William Clark, President Reagan's National Security Adviser, gave Reed his first consulting assignment...
...grooves and re-creates the sonic vibrations. Digital recordings are akin to the computer-assisted cameras used in space, which translate images into a series of binary numbers that are later reassembled into pictures back on earth. In digital recording a computer takes 44,000 impressions of sound per sec. and assigns each a numerical value. The numbers are then recorded in pits embedded in the disc, read by a laser beam and changed back into sound. The "digital" LPs currently found in record stores are really hybrids, recorded digitally but pressed and played back as analog discs...
DIED. William L. Cary, 72, principled, tough-minded chairman (1961-64) of the Securities and Exchange Commission and professor of corporate and tax law at Columbia University; of cancer; in New York City. Cary spurred the then sleepy SEC into increasing its enforcement powers and tightening insider trading rules. His 1963 study of securities markets led to sweeping changes, including the eventual demise of fixed commissions...
...about quality entertainment here. He is defining the networks' primary function: to make money, not by selling programs to viewers but by selling viewers-in bulk, watching a prime-time show-to advertisers. The ad agencies are still buying, despite skyrocketing rates ($91,000 for the average 30-sec. spot in prime time, up 125% since 1975). Says Louis Dorkin, senior vice president at the Dancer Fitzgerald agency: "The advertisers will keep paying these prices until they decide there's a better game in town...
...less depressed segment of the car market: relatively affluent buyers who have a taste for speed and dash and might be customers for GM's Camaro or Firebird, or Toyota's Celica. In Motor Trend's tests, the G24 hit 60 m.p.h. in 8.22 sec., close to the industry's performance leader, Ford's 302 HO Mustang...