Word: showdown
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Haack's elevation, which is expected to be formally approved by the exchange's 33-man board of governors in May, will come none too soon. Because of Funston's lame-duck status, the Big Board has been more or less marking time in its imminent showdown with the Securities and Exchange Commission, which wants some basic reforms in brokerage commission practices-notably, the elimination of "give-ups," by which brokers doing business on behalf of mutual funds split their commissions. In fact, one reason for the difficulty in selecting a new president was the resistance...
After Powell's new election certificate arrives in the House Clerk's mailbox some time next week, nobody is quite sure of what will happen. Powell could force a showdown by appearing in person to demand admission, but thus far he has shown no inclination to leave his Bimini retreat. Representatives who want Powell admitted could force the is sue by seeking to reverse the House decision to exclude him, but they are likely to be defeated. If anything, congressional sentiment has hardened against the preacher-playboy in recent weeks. "The reasons for excluding him in the first...
...Boston University and Cornell hockey teams, which together accounted for one half of the Crimson skaters' 12 losses this season, topped the West's best to set up the first all-East NCAA final in 18 years. It was the third showdown between the two teams: in the Arena Christmas Tournament finale they let the marbles lie with a 3-3 tie. Cornell picked up some of them with a 4-3 ECAC Tournament win last week, then took them all on the 45-minute ride back to Ithaca with a convincing 4-1 win Saturday night...
Fortunately for Onganía, the showdown caught the unions at a moment when they were embroiled in a bitter internal power struggle. As a result, the first 24-hour strike fizzled and, in the face of Onganía's determination, labor leaders last week knuckled under and called off a planned series of strikes. With labor brought to heel, at least temporarily, Onganía's government pressed ahead with its austerity program. Though keeping a tight lid on wages, the government announced a 100% hike in postal and telegraph rates, a 23% increase in water...
While Krupp is by no means bankrupt, insiders feel that the managerial showdown should have come much sooner. Alfried Krupp, remote and embittered ever since his six-year Allied imprisonment for using wartime slave labor, has grown increasingly pained over the fact that his only son, Arndt, 29, has shown more inclination to fly with the European jet set than take over the company. Meanwhile, critics charge, Krupp's expansive general manager, Berthold Beitz, has overextended the company when he should have been cutting down its unprofitable operations in coal and steel. With public management instead of a private...