Word: stockely
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Dates: during 1970-1979
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Williams will begin his five-year term at a time when many of the difficulties facing previous chairmen have already been resolved. Much of the private-club nature of the New York Stock Exchange has been stripped away by SEC-mandated rule changes. Negotiated commissions for stock trades went into effect nearly two years ago, abolishing the anticompetitive fixed-commission system. A consolidated ticker tape is in operation, allowing investors to compare prices for individual stocks on several exchanges, including the N.Y.S.E...
...Williams will still have to contend with some thorny issues. The most important is creation of a central market -which Congress mandated in 1975 without defining how the goal was to be achieved-that will somehow tie together all the nation's stock exchanges. One way to start would seem to be mergers of stock exchanges, and several are in the talking stage, but the SEC has not yet received a proposal. If it does, Williams will find the commission itself divided: one faction believes mergers would increase efficiency, another considers them anticompetitive...
Survival is no longer the issue. The old Plains is already dead. Carter T shirts ($4.50), Amy Carter birdhouses ($8), Jimmy Carter "Happy Mouth" bottle openers ($4), Plains coloring books ($1) and the "Georgia Peanut Presidential Handbag" ($15) are now the chief stock of almost every shop in town. Outsiders so jam the small stores that Plains residents have taken to driving ten miles to Americus to do the simplest food shopping. Although the state has installed Plains' first traffic light, massive traffic tie-ups occur regularly. Five tour outfits, one of them partially owned by Billy Carter...
...plans to monitor domestic roasting and production costs monthly rather than quarterly. To forestall possible collusion on the part of producing countries to jack up prices, U.S. embassy Agriculture attaches will keep tab on coffee inventories throughout the world. The U.S. Government is considering the creation of a buffer stock of 20 million 132-lb. bags, starting its buying as soon as prices fall. Says House Agriculture Subcommittee Chairman Fred Richmond, a New York Democrat: "We are paying $7.5 billion for green coffee beans [this year], when we paid $1.5 billion for the same amount last year. That means...
...strike story was a sequence of Through the Looking-Glass ironies. The government, which took over Leyland almost two years ago to save it from bankruptcy and now owns 95% of its stock, threatened to cut off promised investment funds if management could not end the walkout. Militant Laborite Hugh Scanlon, president of the Amalgamated Union of Engineering Workers, which represents the toolmakers, joined Leyland's labor relations boss Pat Lowry to endorse a strikebreaking ultimatum: go back on the job by Monday or get the sack. With reverse English, Tory politicians and press threw their weight behind...