Word: shorted
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Dates: during 1940-1949
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...always with Hartz, both the style and the substance were brilliant. But since I'm a little short on space today, let me skip the substance--there's nothing so dull as a synopsis anyway--and talk about Hartz's manner of speaking...
...only because "I was worried and confused and in a hurry to get out." And even if Maggie & Jiggs did suggest a tip, he insisted that he always checked it against his charts. That was why he had always been right on long-range predictions, though sometimes wrong on short-range ones. Said he: "Stocks always do what they ought to do, but they never do it when they ought...
...drives the cost of some sound shows far above television costs, television is rapidly catching up-and TV audiences are far smaller. Furthermore, to keep their clients up to the minute on television, agencies have built up expensive television departments. So far, income from television accounts generally is far short of covering the cost of writers, new art directors and surveys. "When we get into television," one adman admitted, "we lose our shirts...
...Short Cuts. The biggest drain came from luring advertisers into television with cut rates. TV has scored some impressive advertising triumphs. When Kraft Foods Co. plugged one of its lesser-known brands of cheese over TV, dealers in Philadelphia sold out the next day. Such success has brought new advertisers flocking in-their number rose from 243 in June to 495 in October-but at a very heavy price. The standard rate for one network TV hour in New York (exclusive of talent, production, etc.) is $1,000. Telecasters estimate that they need about $3,000 to break even...
Cheap Money. Wall Streeters had expected that the Treasury Department, worried about inflation, would contract credit by again boosting the rate on its short-term securities, thus paving the way for a rise in interest rates all around. But the Treasury seemed to think that inflationary pressure was dropping; last week it announced that it would continue the present rate on short-term borrowings, and all issues of long-term U.S. Treasury bonds moved above their Federal Reserve support levels...