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Business Adventures: Twelve Classic Tales from the World of Wall Street

John Brooks

Last accessed on Tuesday May 9, 2017

16 Highlight(s) | 2 Note(s)

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psychological gestures on the Exchange are most effective when they are neither intended nor really needed.

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The accompanying text declared that the decision to produce the car had been “based on what we knew, guessed, felt, believed, suspected—about you,” and added, “YOU are the reason behind the Edsel.” The tone was calm and confident. There did not seem to be much room for doubt about the reality of that full house.

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The road to Hell is paved with good intentions!”

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For 1960, taxpayers with reportable incomes of between two hundred thousand and five hundred thousand dollars paid, on the average, about 44 per cent, and even those few who reported incomes of over a million dollars paid well under 50 per cent—which happened to be just about the percentage that a single taxpayer was supposed to pay, and often did pay, if his income was forty-two thousand dollars.

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even though most fair-minded students of the subject agree that its effect over the half century that it has been in force has been to bring about a huge and healthy redistribution of wealth.

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In the United States it is comparatively easy to raise tax rates and to introduce tax-avoidance devices, and it is comparatively hard to lower tax rates and to eliminate tax-avoidance devices.

Note:opposite is true today

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Paradoxical as it may seem, the evolution of our income tax has been from a low-rate tax relying for revenue on the high income group to a high-rate tax relying on the middle and lower-middle income groups.

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All the evidence suggests that communication between people by whatever means, far from simply accomplishing its purpose, invariably breeds the need for more.)

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Yellow highlight | Page: 185 Note | Page: 185

Various magazine articles have predicted nothing less than the disappearance of the book as it now exists, and pictured the library of the future as a sort of monster computer capable of storing and retrieving the contents of books electronically and xerographically. The “books” in such a library would be tiny chips of computer film—“editions of one.” Everyone agrees that such a library is still some time away.

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Conventional publishers, I gathered from my researches, sometimes find it a bit bewildering to be confronted by this futuristic giant not merely as an alien threat to their familiar world but as an energetic colleague and competitor within it.

Note:like kdp and apub

Yellow highlight | Page: 217 Note | Page: 217

coöperative.” Indeed, since it was primarily the Stock Exchange’s good name that was at the center of the planned deal, it would appear that all the banks were marvels of coöperation. After all, a banker is legally and morally charged with doing the best he can for his depositors and stockholders, and is therefore hardly in a position to indulge in grand gestures for the public good;

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if his eyes are flinty, they may mask a kind, but stifled, heart. As for the Continental, it had reason to be particularly slow to act, because its “exposure” amounted to well over ten million dollars, or much more than that

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Is D. & R., then, a prototype of the free enterprise of the future, accountable half to its stockholders and half to the rest of humanity? If so, then the irony is complete, and Lilienthal, of all people, ends up as the prototypical businessman.

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Looking around, I noticed in the crowd several families with small children, one woman in a wheelchair, one man with a beard, and just two Negro stockholders—the last observation suggesting that the trumpeters of “people’s capitalism” might well do some coordinating with the civil-rights movement.

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The pound, the two men agreed, now had its back to the wall;

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Yellow highlight | Page: 436 Note | Page: 436

The market was in the classic state of chaos, distrustful of every public assurance and at the mercy of every passing rumor.

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