What It Is (posts below left; rate sheet, client list, other stuff below right)
My name is Bob Land. I am a full-time freelance editor and proofreader, and occasional indexer. This blog is my website.
You'll find my rate sheet and client list here, as well as musings on the life of a freelancer; editing, proofreading, and indexing concerns and issues; my ongoing battles with books and production; and the occasional personal revelation.
Feel free to contact me directly with additional questions: email@example.com.
Thanks for visiting. Leave me a comment. Come back often.
Monday, December 7, 2009
Value Line’s Sam Eisenstadt Says He Was Fired After 63 Years
By Sree Vidya Bhaktavatsalam
Dec. 7 (Bloomberg) -- Samuel Eisenstadt, the research chairman of Value Line Inc., said he was fired from the investment advisory firm where he worked since 1946.
Chief Executive Officer Howard Brecher informed him on Dec. 4 that his services were no longer required, Eisenstadt, 87, said in an interview. Brecher took over as acting chairman and CEO last month after the New York-based firm agreed to pay $43 million to the U.S. Securities and Exchange Commission to settle charges that its mutual funds charged investors “phantom” trading fees.
“There was no explanation,” said Eisenstadt, who was not involved or implicated in the SEC settlement. “I’m not retiring. That would imply that I’m ready to leave the business, which I am not.”
Eisenstadt helped develop Value Line’s quantitative models that provide independent stock evaluations and recommendations to individuals and other investors. Value Line, whose predecessor was formed in 1931, sold its recommendations by subscription to investors and became a household name in the 1970s and 1980s. The flagship Value Line Investment Survey covers about 1,700 stocks, according to the company’s Web site.
Value Line spokesman William McBride said the company does not comment on personnel matters.
Apart from selling investment research, Value Line also managed mutual funds. Last month, the SEC said Value Line improperly billed investors for trading services. As part of the settlement, Value Line’s Chief Executive Officer Jean Bernhard Buttner and Chief Compliance Officer David Henigson were barred from the industry.
Buttner became Value Line president in 1985 and took over as chief executive officer in 1988 after the death of her father, Arnold Bernhard. Bernhard, who founded Value Line’s predecessor in 1931, hired Eisenstadt 63 years ago as a proofreader. He rose through the ranks, and became research chairman in 1987.
Sam, welcome to the world of freelancing. I suspect someone else will snatch you up in no time. According to the actuarial tables, at 87, you've got years of productivity still left in you.
Mark Twain's comments on proofreaders:
"Yesterday Mr. Hall wrote that the printer's proof-reader was improving my punctuation for me, & I telegraphed orders to have him shot without giving him time to pray." - 1889
"In the first place God made idiots. This was for practice. Then he made proof-readers."- 1893
That notwithstanding, perhaps my favorite Twain quote comes from his impressions on first seeing the Atlantic Ocean. His companion asked, "What do you think?" Twain's response: "It appears to be a success."