Medford mail tribune. (Medford, Or.) 1909-1989, May 17, 1963, Image 12

Historic Oregon Newspapers

Medford mail tribune., May 17, 1963, Image 12

Image provided by: University of Oregon Libraries; Eugene, OR

About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (May 17, 1963)

Prev Page of 22 Next Prev Issue Next Text PDF JP2 (2.6 MB) Clip/Print Image

Return to Top

Prev Page of 22 Next Prev Issue Next

Newspaper Page Text12 A FRIDAY, MAY 17. 1983 MEDFOHD MAIL TRIBUNE. MEOFORD. OREGON Your Money's Worth 1 By SYLVIA PORTER ' Copyiigtit, Hall Syndlcata, Int. DIRECTORS AND CONFLICTS OF INTEREST i In its massive report on the stock market the Securities , & Exchange Commission raises significant questions about whether bankers, investment bankers, insurance company executives and mutual fund managers should be directors of , companies with which they have financial dealings or in wh'ch their firms hold stock. In recent months there has been mounting debate over, the judicial ethics of federal judges who accept jobs as directors of corporations and banks. There are subtle problems of conflict of interest involved here which defy glib generalization - as the SEC itself admits. ' ' Perhaps the best qualified man in the U.S. to comment on a director's job is Sidney J. Weinberg, partner in the investment banking firm of Goldman Sachs & Co. Weinberg has served on as many as 35 ooards of directors at one time, ' still sits on the boards of such gianls as Ford, General Foods, Continental Can. Here are some of Weinberg's views on the role of directors in business today. , j Portari What s your reaction to me 3tu s questions auum nrnfnslnnal ilttlne on boards of companies with which they have financial relationships or in which their firms hold stock? . - Weinberg: It would be extremely unwise to rule out these financial professionals as directors, especially in view of the fact that good directors are so hard to find. Most of the former abuses stemming from the sort of thing the SEC questions have been eliminated by SEC and Stock Exchange rules and court decisions. Stockholders actually arc well protected by laws under which a director i a corporation with securities listed on a stock exchange must report his purchases and sales in that company's stock each month, must surrender to the corpora tion any profit he makes from purchases or sales within a six months' period and must disclose in proxy statements any dealings with the company either directly or Indirectly which give him profits of more than $30,000, Porleri Has the problem of conflict of interest been a ' reason suitable directors are hard to find? " . Walnbargi Yes. This is one factor. But while there is much tnlk shniit confl let of Interest, amazineiv utile coniuci of interest has turned up in recent years among companies J know. Conflict of lime is another factor. I think the professional manager of one company should not be a director of more than two other companies. With this many outside director ships, he can broaden his outlook, learn something. But with three or four outside directorships, he is just taking on an additional Job, in effect giving away the, assets of his own company. Porttri What effect has the development of stockholder "protective" associations and groups had on directors? Weinberg: 'They can only make directors more conscious of their responsibilities, but it is still the directors and not the stockholder groups who have the legal responsibility. The board of directors is the supreme body of the corporation and is obligated to see that the corporation Is well run. Generally speaking, stockholders today are far more cogni zant of the type of directors elected than they have ever been In the past. The day of the stuffed shirt director is over.: "Term" directors also are fast disappearing, meaning that stockholders have a chance to vote for the election of directors every year. , Porttri How does a company select candidates for new directors? , ; Weinberg: The most orthodox way is to establish a com mittee nf the board, often chaired bv the chairman of the board, which In turn solicits suggestions from current board members. This may sound like a self-perpetuating process V...4 I I. nnt..nin, tUa nnl.i h.i.aIUi.1 ....... In .. I n...ll UUt tb IB DbWMlJ LUC UflfJ bMat.VlV.il. VVUJT bU bTb UUU liuiiui- dates. Few people realize how difficult it is to get the proper men, with adequate business expedience and judgment, to serve as directors. Getting the right kind of directors is one of the biggest problems faced by American industry today. Porter: What is an "ideal" setup for a board of directors? Weinberg: A board should have a majority of outside members and should consist of men who are independent, informed, dedicated to attending meetings, constructive cri tics and aware they must keep Inside information to them selves. These directors also should resign when they reach the age of 70 or 72 to give younger men I chance. The Foot Image Foot Health Week Promoters Going About It All Wrong, West Believes B mm ATII life O 41,, bt ...Ill -,-b mm I-b ) H.A-.blll VI II . ....... . . . ... By DICK WEST Washington - lllPI) - The American Podiatry Assocla. tion has sent me a packet of literature calling atten tion to the fact that we are now in the throes of na 1 1 o n a 1 foot health week. The associa tion is con cerned be- Win caime o many people neglect their feet, fail ing to take proper care of them and in some cases ever forgetting that they are there. : " 'When your feet hurt you hurt all over' is something we should think about during foot health week," the association says. That certainly is food for thought all right, but I doubt that many of us will spend so much as a day, much less an entire week, thinking about our feet. Given a choice, the ma jority of people will think about almost anything be sides feet. I believe the basic reason for this is that feel are generally regarded as unglamorous. Many stage, screen and tele vision dramas have been built around brain surgeons and other medical specialists, but I have never seen one that featured a foot doctor. Yet, the possibilities are vir tually unlimited. No other part of the body has as many things that can go wrong with it as the foot, unless it is the other foot. Weak arches, athlete's foot, bunions, corns and calluses are only a few of the pedal Eugene Pilot in Exclusive 'Club' Redding, Calif. (UPK A Eu gene, Ore., man joined an ex clusive "club" here Wednes- day!-one that light plane pilots in the area are doing their best to avoid. Clifford Womack hpramp the third pilot in 17 days to walk away from a crackup at Benton Field here. Womack was not injured when hs rented Beechcraft Mustang overshot the landing strip and came to a halt in a deep ravine. The craft stopped about 100 feet from the spot where two other light planes finally halted after making similar landings April 30 and May 1. Both pilots walked away, one with scratches. ailments. The trouble is, they have never been recognized as status symbols in the way that, for example, ulcers have. It stems to me that ne glect of the feet, which the Podiatry Association so strongly deplores, could be overcome if the association went about it in the right way. Simply, admonishing us to think more about our feet won't do. What L needed is a nationwide campaign to im prove the foot Image For one thing, you seldom hear the phrase "a well-turned ankle" any more. This is be cause the feminine ankle has become such a common sight that it is universally disre garded. The feminine knee also is losing it appeal due to over exposure, but that is another story. In connection with foot health week, the association supplied radio stations with 10-second public service an nouncements containing such messages as "Why not be kind to your own feet this week." How much more effective they would have been if the radio spots had offered a brief dialogue between two male voices. First voice: There goes Marge. Isn't she homely? Second voice: Yes, but doesn't she have a sexy instep. You can bet that if feet took on an aura of romance, the of- "OIL TO BURN" ' Mobilheat i S ( H Green Stamps MEDFORD FUEL CO. 772-2111 fice of your friendly neigh borhood podiatrist would be the busiest place in town. ON COMMITTEE Salem tUPD Steven J. Ey man of Canby has bsen nam ed by Gov. Mark Hatfield to the livestock advisory com mittee for a term ending March, 1966. '. SKY JOBS .-... The Commarcial Airlinet need youni i men and women today for JET ACE expanuon. Hig! paying posuioni aa HOSTESS, RESERVATIONIST, COMMUNICATIONIST, and PAS SENGER AGENT oiler opportunity to meet celebrities and FREE TRAVEL to interesting piacea. High School graduate!, 17 to 38, aee if you can qualify. For full information mall coupon, Box 7132, Portland . . 19. Oregon. Weaver Airline Penonnel Training ORT-62 jox 7132, Portland If, Oregon 1 en ma free information without obligation on Sky joi IlJm Nbim-Addrtu- City Horn -Prion! Bui. Agt. STAR GAZER0 Y6.JMo.73l ftL74-7477 I c-r? wav at OWUM O MAV a 3 ,'., V) M4 M-M pC-SStv I CANCII m 3187M) JU.Y3I . Aurj.2.1 VM0O AIM. 31 serf MI7i3 M 137.48-1 -Br CLAY R. POLLAN X Your Daily Activity Guld According fo ih Stars. To develop message for Saturday, read words corresponding to numbers or your ecodioc firth sign. I LnanQM 31 In 33 For 34 Or 35 With 36 Your 37 Private 38Reirtth 39 01 40 Old 1 Quarter 2 Wood 43 In 44 Fakers " 45 Coworkers a fi Children 47 Circle 48 Molten 49Wordrobe StPT. OCT. 4-22 33-44 54-63-80-83' ? Sparkling 3 Sow 4 6. 5Th A You . 7 Perton SSmift 9 Plon lOYou'm . 1 1 You 12Portmr , 13 Bright 14 Occur. 15 Have 16 New . , t7You'r 18 Mow 19 In 20 Wortrl' 21 Number 22 Alert 23 In -low 24 Day 25 in 26 Son 27 Ort 2ObKt 29MoV 30 Intlutnliol 1 Thing 62 Rectottvt 63 Lntn 64 Bookt 65 Short 66 Ym,r 67 Mot. cA Demand 69 FriflrvJt 70 Improvl 71 Do 72 Now 73 Btu . 74 Work 75 Tcxtov 76 Aton 77Todov KOt10 NOV. 22 VV SO 51 An 52 To 53 Soifov'i 54 And SbDo ' 56 Or SO That AO Love ftjlOood (H) Advene 79 Till HO Chang 81 And 8?T, 8.1 A.ritlt 84 You R 5 lata? 86 AMtctkm 87 Nod . 88 Emm 89 Atuntlon 90 Tim. jT-b 5'1 m SAGITTARIUS nov a oic n f l 9-16-27.38 U9-70-78 CAPMCOtN DIC. JAN. U5-J6-67 VE AOUAKUf IAN. 21 rra. I0-J.3?.43(0 153.6475 bS: MCII MA8 2l'"H? lll-15.J4.37aT 48-59 87 89 PRESCRIPTIONS! DIAl 772-2330 . " a IV I Dick Clan Call Anylim - DAY or NI0HT1 Ptraontllitel Pickup and Dtlivtry - Star Hourtt 9:00 A.M. to 6:00 P.M. Yenr Haadcguarteri lor Creatine. Care! Coimtllca Parte 4 Waddlna Supplln Clftt Veterinarian Suppllai Ywt Char Atttunt Inite4 At Wait Main your ricrip liait it illir.0 "UP t a ttendard NOT down to orlce." West Main Pharmacy .nail are re 13S W. Main at Grapa-Ph. 772-2330 REPEAT It 1 1ST REASON FRIDAY, MAY 17, thru SATURDAY, MAY 25 DllA tn tha Kai4 uaitkop mmu nnnnlji At A . v W VHM . bb , , b. bl I I J UVUI MIU S not take advantaae of our annivercarw . - . ; - sale. WE ARE GIVING YOU a ccrnkin ruAkirc Many Other Items Not in Ad tkX . -IS F I S H E R E BE READY BIG SAVINGS MANY SALE F I S H E R M E SPIN DRIFT ROD : No. 285 HURRICANE - ZW $Q95 SALT WATER SPIN REEL No. 8138 SEACREST (Full Bail) $117195 FISH EGGS "FIREBAtl" Fluorojcent 2-Oi. Singla Each 49 TENTS Rainiar Huntar Jr. 6W x 6W Wall Tant with floor.. Rainier Umbrella 9'x9' With floor and insect net.. $1688 $34" CREELS IS" Rubberixed Canvas'L! 6"x 12" Vinyl : $79 HOOKS Aoorted Pocket or Tube Pack 9C FISH BAG & ROD HOLDER $249 Folding $39 Net...... I LARGE GAFF $189 2 Piece Aluminum Handle Fly File Fly Box Winged Flys $98 $89 Attortments with Aluminum Fly Box. SCREEN DOORS Aluminum - 32" and 36" $g95 COW BELLS No.l $09 Size. . ... I 89e No. 2 Size. . FLAT FISH Special Lot Includes X4 and X5 F7-F6-F5 Values To $1.50 39 i v, 1 It j, i ilidlJJ i I! v 4 ' 'ft . 2ND REASON life; preservers RES-Q-P-AC Self Inflating.. $1 48 A 7 , THE REMOTE CONTROL ELECTRIC LAWNMOWER WE GAVE TICKETS ON DURING OUR ANNIVERSARY SALE WAS NOT CLAIMED ... WE WANT SOME ONE TO WIN IT. Get your Free Tickets. Drawing 5:00 P.M. May 25th. No purchase necessary. Not necessary to be present. If - " ' ft' . ,,,'t , . b , , iV 11 'vum'ti: LURES & SPINNERS Minno Plug, Vi-oz. 300 Series Hot Shot 59 69' Worden's Spin N' Glo, Size 4 (Presto Kits) 79' Gold Fish Spin Assortment 3" Salmon & Steelhead Spinners without hooks 25' l4-oi. Weighted No. 4 Blade -39 Vibro-Lite Tiny Troll 59 GARDEN SUPPLIES GRASS SHEARS Only 7" HOE Only BOW RAKE 14 tine LAWN EDGING Aluminum 4"x40' PLASTIC PIPE Vinch 100 ft. roll . $79 $195 $89 99 $399 Housewares & Gifts WEST BEND 3 PIECE STEEL $99 BOWL SET-Va-qt., 1l.qt., 3-qt, X $Q88 $388 Manning Bowman ELECTRIC TABLE BROILER Chrome and Steal Rival Electric CAN OPENER with Cord Storage and lid Holder.. IRONING BOARD All Metal $C49 Adjustable Height-Sturdy J CRYSTAL BUD VASES Etched Patterns . 79' MANNING-BOWMAN 7" ELECTRIC HAND SAW $1997 BAR-B-Q GRILLS $388 PORTABLE HOSE REELS WITH CART $1388 PLIAFOAM PICNIC COOLER $299 . PAINT DEPARTMENT White House Paint ,S!GiL529 I6-01. can 81c Spray Enamel Wall Paper in stock FREE PASTE When You Order Patterns from Our Fine Selection of Wallpaper Books Remove that old wallpaper - WALL STEAMER FOR RENT All Patterns jCO Single roll OVC 7 Don't Miss These Savings! r HUBBARD BROS HAROWARE I I; H(JI X "L--ggs BROS., Inc. Main and Riverside phone 772-7777 Our 79th Year V.VVY 3RD REASON v ; WE HAD SOME DAMAGE FROM WA TER DURING RECENT HEAVY RAINS BECAUSE OF STREET CONSTRUCTION. WE WANT TO CLEAR THIS MERCHAN DISE. MANY OTHER ITEMS SPECIALLY PRICED. I Education- 11 iimi 11 'mi intj