Word: ticker
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Dates: during 1980-1989
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Although Wall Street still projects an image of shouting brokers and mountains of ticker tape, Rolland and his staff conduct their business with quiet, microchip efficiency in a Chippendale-furnished office. Seconds after the Chemical Bank group decides on a stock to buy, an order is called over a tieline telephone link to a Wall Street broker, who transmits the order to floor traders at the New York Stock Exchange. The transaction is registered quickly in the mammoth computers of the stock exchange, which have the capacity to handle deals for up to 150 million shares a day. A phone...
...Cannes Film Festival. For 13 days on the cool but sunny Côte d'Azur, fantasies of art and avarice were spun with blithe disregard for events in the waking world outside. On the façade of the town's posh Carlton Hotel, an electronic ticker tape mixed bulletins from the Malouines (Falklands) with screening schedules for the night's new films. While two movies about political prisoners -Costa-Gavras' Missing and a Turkish production, Yilmaz Güney's Yol - were winning the festival's top prize, the restaurants were abuzz...
...most serious problems facng the auto industry has been labor costs. Carmakers say that the high price of production has helped drive up the cost of U.S. cars and pushed consumers into buying cheaper imports. Those staggering ticker prices, plus generally flat economic growth since 1979, has pummeled Detroit mercilessly...
Wednesday afternoon, Oct. 17, a news ticker spelled out new complications. The Arab oil producers had just announced an immediate production cutback of 5%, to be followed by monthly cutbacks of 5% until Israel withdrew to the 1967 frontiers. We were so focused on the danger of an embargo that we thought the production cutback largely symbolic. It was?but it had revolutionary implications. As it became progressively evident that the producer cartel could set prices nearly arbitrarily by manipulating production, a new phase of postwar history began...
Panic began rippling through world money. In Hong Kong, the widely watched Hang Seng index plunged a staggering 7.8%. By the time brokers arrived for work in London, they were facing mountains of sell orders. No sooner did trading begin at 9:30 a.m. than the exchange's ticker, traditionally a paradigm of understatement, burst forth with news of "widespread and indiscriminate price-slashing." Said a broker as the sell orders piled up and the share prices plunged: "It's like a free fall without a parachute." By the end of the morning, the Financial Times...