Word: traders
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Long Overdue. Having been relieved last spring at the relative mildness of the first part of the SEC report (TIME, April 12), Wall Streeters were shocked by the sharpness of Part 2. Some grumbled that the criticisms and suggestions were "wild" and "unknowing." Said Floor Trader Edwin H. Stern: "The other floor traders think what I think. They don't know what to think." But after the first shock, many close observers of the market acknowledged that the proposed reforms are long overdue, would bring the market up to date and raise investor confidence...
...reputation of William Zeckendorf, 58, as an irrepressible trader in land, leases and buildings hurt him last week in Canada. Under pressure from his north-of-the-border partners, he resigned as chairman of both Webb & Knapp (Canada), which is 63.5% owned by Zeckendorfs Manhattan-based Webb & Knapp Inc., and of Montreal's Trizec Corp., which is 49% owned by Webb & Knapp (Canada...
Assessing Laval, Cole measures him mainly from a practical point of view -as a peasant trader who was out of his league and should have known it. Yet the verdict on Laval must ultimately be moral. Again and again, to preserve its identity as a government of France, Vichy had to order Frenchmen to imprison and deport other Frenchmen in order to keep the Germans from moving in and imposing even harsher demands. Does the hope of saving five men justify the death of one? Did France have a right to salvage what it could from the 1940 debacle...
...Subtitles. Bryher's seemingly patchy method is likely to prove a relief to readers tired of overstuffed historical pageantry. But her assumption that anyone reading the book will know in large outline at least who won the Punic Wars and how is often disconcerting. As Trader Zonas leaves from his home in a seaport town and trudges into the hills with the hope of selling leather bridles to the Carthaginians, his small adventures at first seem fragmentary and meaningless-like a provocative foreign film seen without subtitles...
...Some public relations men profited directly from trading in shares of client companies, a practice frowned on by the SEC because the public may not be aware that the "information which it receives comes from an interested source." The SEC added that "the most active trader among public relations men" was Jerry Finkelstein, president of now defunct Tex McCrary, Inc., who, among other deals in clients' stock, made $2,100,000 trading in Universal Controls...