Word: optionals
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Caldwell's Mistake. But what the scouts were not prepared for was a new Princeton play, built around Kazmaier, and designed especially for the Cornell game. In Caldwell's balanced-line, single-wing formation, Dick is always given an option on his running-pass play. If the receivers are blanketed by the defense, Kazmaier, already on the dead run, can keep right on going. The ability to pass on the run-and few passers have i-makes Kazmaier even tougher to stop than the ordinary player. For Cornell, Caldwell designed something tougher still...
...method of listing separately the types of utterances which a nation might punish without violating the Covenant. It preserved the seven specific limitations (such as 'expressions which incite persons to alter by violence the system of government'), and added an eighth--the so-called Indian amendment-which gave an option to pass laws against 'the systematic diffusion of deliberately false or distorted reports which undermine friendly relations between peoples and States'. For this there is no counter part in the United States, and the amendment was opposed by the American delegate in the Legal Committee, but without success...
Last year, the Revenue Act of 1950 offered a partial solution to the puzzle. It permitted corporations to give executives options to buy stock at bargain prices (usually at 85% to 95% of the market price). If the executive sold the stock after holding it at least six months, his profit would be taxed at the low capital-gains rate of 25%. This meant real income for anyone in the surtax bracket. In the past year, more than 100 corporations have adopted stock option plans...
...popped Republic Steel Corp.'s Counsel T. F. Patton. Said he: Republic needs a stock option plan to hold on to its top executives. Last year, before the company adopted its plan, Republic lost three top men to other companies which offered fat extra-salary benefits; even President Charles M. White had been approached. But Lawyer Arthur Dean of Manhattan's top-drawer firm of Sullivan & Cromwell probed right to the heart of the matter. Unless companies can reward their executives by such devices as stock options, said Dean, they will slip away in increasing numbers to enter...
...week's end, the panel recessed, undecided whether stock options are inflationary or not. Also undecided: If the option plans are thrown out, by what other means will U.S. industry find merit incentives for its top management...