Word: stocked
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Dates: during 1970-1979
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...years ago, are considered fairly small or at most middling in these inflationary days. Unlike the community of large corporations, the mass of these outfits seldom speaks with one voice on issues that affect them. Now someone wants to be their champion: Arthur Levitt Jr., chairman of the American Stock Exchange, where 95% of the 964 listed companies have revenues under $350 million. He proposes to form a lobby that would be patterned after the Business Roundtable, whose members include the chiefs of 190 of the nation's biggest corporations. His organization, Levitt says, would be open...
...with environmental, safety and other rules comes to $32 per $100,000 of sales for companies with less than $100 million in revenues, vs. $4 for larger corporations. Because small companies are not as well known and therefore need to broaden their shareholder base and increase ownership of their stock, they prefer cuts in capital gains taxes rather than the increased depreciation allowances advocated by big companies. Says Levitt: "Our kinds of companies don't have the assets to depreciate that large companies...
...George of small business, Levitt, 48, son of a New York Democratic politician who was the state's unbeatable comptroller for 24 years, may be making a virtue of necessity. The American Stock Exchange, after all, has long been a home for smaller companies. When he became its chairman in January 1978, he inherited a roster of restless firms whose ambition was to grow large enough to be listed on the Big Board, the New York Stock Exchange. Levitt, who now earns more than $200,000 a year, says he discovered that these companies had "little representation in government...
...important East Coast associate, the Hartford Courant (circ. 218,000). Connecticut's largest and one of the nation's oldest dailies, the Courant (pronounced current) covered the Boston Tea Party and counted George Washington among its readers. Courant employees and retirees, who own most of its stock, turned down a $133-a-share takeover bid last fall by Capital Cities Communications, a media conglomerate with a reputation for rough labor dealings. There was little opposition to Times Mirror, however. The firm made a better offer-$200 a share, or $1056 million-which will make a few Courant associates...
...cost and easy comfort are merely two of the effects of the vast cooling of America. In fact, air conditioning has substantially altered the country's character and folkways. With the dog days at hand and the thermostats ostensibly up, it is a good time to begin taking stock of what air conditioning has done besides lower the indoor temperature...