Word: stocked
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Dates: during 1960-1969
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Drop into a Peace Corps hangout in Delhi, or a resthouse in Nigeria, and chances are the conversation will run to gossip about other Volunteers, mingled with the latest half-despairing, half amused stories about the locals. Such talk is the stock-in-trade of the white man in the tropics, and to this extent at least, Peace Corps Volunteers are no different from other expatriates. What does distinguish their talk, however, is the thread of concern for the job that runs through it: there will be insistent questions about so and so's method of teaching irregular verbs...
Regimen Hurt. Foote moved in seven months after the Regimen scandal climaxed. Now, owning 87% of the stock, in what he calls his "third incarnation in advertising," he is intent on making the shop illustrious again. Says Foote of the Regimen affair: "That hurt us. We lost accounts totaling $2,500,000 as a result of the conviction, and we found it a handicap both in attracting business and people." Today Emerson Foote, Inc.'s billings are $9,100,000 v. $14 million at Kastor Hilton's peak...
...Cool. The Fed's action was salve to the stock market. The Dow-Jones industrial average had already worried off 14 points from its Feb. 8 high of 861 for the year when the market met one of its all-too-familiar Mondays. Hit by a scatter shot of news about turndowns in steel, machine-tool and rail-equipment orders, the Dow-Jones plunged 10.69 points-its biggest drop in three months. When the Fed's easy-money move came at midweek, it helped power the market to a 4.12-point gain in a trading day so turbulent...
...Louis E. Wolfson, now 55, perhaps the U.S.'s most renowned corporation raider. Since he became the principal shareholder Wolfson has been stung with a dozen suits by angry investors, last fall was indicted by a federal grand jury on charges of fraudulent dealings in Merritt-Chapman stock, which could cost him 14 years in jail...
...Such stock manipulations, if they occurred, are only one of Merritt-Chapman's misfortunes under Wolfson. Another is that he tried to build up and broaden the company too fast. Bled by such acquisitions as the unprofitable New York Shipbuilding Corp., the firm's profits and dividends have been dropping; in 1966, there was a loss of $740,000 and no dividend at all. To halt the drain, Wolfson sold off a paint company, a small steel mill, the company's derrick division and a small shipyard, but the future seems so stormy that liquidation...