Word: walls
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Dates: during 1960-1969
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...have the responsibility of handling other people's money usually make large amounts of it. For running Massachusetts Investors Trust, one of the nation's biggest mutual funds, Chairman Kenneth L. Isaacs' pay package in 1967 amounted to $400,000. On Wall Street, the starting salary for securities analysts has escalated in the past five years from $7,000 to at least $10,000, and ranking analysts get $25,000 to $60,-000. On top of that, executives of brokerages traditionally pocket bonuses of from one month's to two years' salary. Even better...
...Washington's battle against price rises intensified, Wall Street last week finally seemed to get the message. After meandering since January, the stock market suffered its worst weekly loss in 21 years. The Dow-Jones industrial average declined by 35 points, to 917-the lowest level since last September. On the New York Stock Exchange, declines outnumbered advances by 3 to 1. On the American Exchange, prices dropped by an average of 5%. The slide continued until the four-day trading week, abbreviated for Washington's Birthday, ended mercifully on Thursday...
Fever Symptom. The public and the professionals also seem increasingly uneasy about the "tone" or "quality" of the market. The much publicized mess in the back offices of brokerage houses, which are tangled in paper, has done little to inspire confidence in the effectiveness of Wall Street's management. , In addition, the fast rise of prices of new issues, many of which have climbed to premiums despite meager or non-existent earnings, is a symptom of dangerous speculative fever...
...recent pressures on the conglomerate corporations have also helped reduce investor enthusiasm. Congress and several Government agencies have begun to investigate these acquisitive companies with a view toward eliminating the tax advantages that help them to make mergers (TIME, Feb. 21). A growing number of Wall Street analysts are beginning to suspect that many conglomerates have been overpriced. One of the most controversial conglomerates of all is debt-ridden Ling-Temco-Vought, which plans to reduce its controlling interest in Braniff Airlines from 67% to 55% and sell off some other assets, including all of its holdings in National...
EVERY INCH of wall space is covered with light shows of various kinds indifferent themes, with pictures ranging from ten foot high shots of Janis Joplin's singing face to Egyptian hieroglyphics. Fascinating things happen in isolated corners with the slides, but these shows are in fact all pre-programmed by computer; there is not the spontaneity and musical relevance of the Tea Party's light show, but rather a static grace...