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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...
...disclose publicly their potential foreign loan problems. As a result, in their third-quarter reports to the commission, the banks with large loans to Mexico and Argentina were, in effect, forced to reveal their total exposure for the first time. But the disclosures are still incomplete because the SEC did not ask the banks to tell what portion of their loans is to private borrowers as opposed to governments...
...Renaissance sketches with drawings from the early Snow White and Pinocchio, to the still unfinished feature The Black Cauldron. The comparison holds; these oversize pages contain small masterpieces of illustration that deserve a place on museum walls. Onscreen, the cartoons went by at the speed of 24 frames per sec. In this greatest of all Disney festivals, the work appears timeless...