Word: skids
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Usually he is alone, brooding over the collapse of his financial empire (TIME, June 22) in the aftermath of Wall Street's Blue Monday skid. But last week Eddy had a companion-handsome, French-born Olivier Coquelin, 32. Coquelin is the manager of a Manhattan cafè society watering spot called Le Club, where Eddy, bedazzled by a "board of governors" that includes Noel Coward, Rex Harrison and the Duke of Bedford, was an eager member. Said the loyal Olivier: "I have come to see zat Eddee does not go to zee dogs...
What is the small investor going to do with the extra money he does not put into the market? Since stock prices began to skid six months ago, many people have retreated to the safety of savings accounts and insurance policies. The Federal Home Loan Bank last week reported that in the first quarter of this year, savings of all kinds climbed a record $8.9 billion to nearly $346 billion. Other investors, reluctant to leave the excitement of the market altogether, have been turning to mutual funds in the hope that professional investment management will see them through...
Foresight Was Rare. All during the wild skid that led to last week's "Black Monday," the U.S. press maintained what amounted to an unintentional conspiracy of silence. There were clues to be found back in the financial pages-but, even by the oddest journalistic judgment, that was hardly where the story belonged. And sometimes even the financial-page footprints were obscure. "The stock market acted yesterday like a diver going off a springboard," reported the New York Times in a heavy-handed attempt at cuteness. "It went up, down, up, and then plunged." The New York Post...
Here and there, a paper sensed the significance of the market's movement and pushed the story briefly onto Page One. The Tulsa World kept the story on Page One three days running (STOCKS SKID TO NEW LOW ON SELLOFF). In the San Francisco News-Call Bulletin, the market story surfaced twice. But such foresight was rare...
...between times, Navarro turns dials on imaginary television sets (gunfire everywhere), short-wave sets (static and screams), moves in on an auto race at Indianapolis (skid, crash, silence-then the thin crackle of flame...