Word: stockly
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Dates: during 1950-1959
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...reign, the Bell System's operating revenues rocketed from $655 million to $2.2 billion, and its phones multiplied like little black Shmoos from 11.2 million to 28.5 million. Gifford guided A. T. & T. intact through a federal antitrust investigation during the '30s, pushed the employee stock-purchase plan that has made company stockholders out of 45% of A. T. & T.'s employees. In 1927 he opened the first commercial service between New York and London over the radiotelephone circuit, and in 1935 sped the first call around the world-and back-to a vice president sitting only...
Nothing to Chance. A. T. & T.'s efficiency goes far beyond machines. Almost every employee agrees that the company is a good place to work; it offers interesting work, stock purchase and pension plans, security and job advancement. But few deny that it is the nearest thing to regimentation in a private company. Says one employee: "When you join the telephone company, your whole life changes." A. T. & T. drills "duty" and "service" into its employees; it inundates them with dozens of handbooks of instruction. They tell employees what to do to meet almost every conceivable problem, from flying...
Kappel is a demanding boss, but he softens visibly when he talks about the public-which he still considers his boss. "If anyone needs to be sobered up about his responsibilities in this job," he says, "he just has to realize what kind of people own stock in A. T. & T. Half of them are women, and many are widows. They depend on this thing...
...York Stock Exchange suspended trading in Jacobs stock for failure to file financial statements. Last week SEC suspended over-the-counter trading in Jacobs and Bon Ami. When space was booked in Guterma's name on a plane to Ankara, SEC quickly obtained a warrant for his arrest, said that losses to investors would reach many millions. Picked up with him was a longtime financial associate, Robert J. Eveleigh, who was found in a Manhattan call girls' apartment fortnight ago when police raided...
...over, Guterma flowered as a trader, also obtained a bankroll from Philippine and Italian businessmen, which he brought to Florida in 1950 to start a project growing flaxlike ramie fiber. He then moved to Manhattan and with a partner opened McGrath Securities, a firm that often floated stock in his new companies...