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Out on the Street

March 06, 1988

The Wall Street job-cutbacks story stated that "the securities industry already has idled about 15,000 people, and there is talk among employment experts that another 10,000 may be out of work before the blood bath ends."

Perhaps baseball commissioner Peter V. Ueberroth, who, in his spare time, negotiated E. F. Hutton's recent merger with Shearson Lehman as a member of Hutton's board of directors, will donate the $500,000 bonus voted by the Hutton board and his $447,000 retirement stipend to those less fortunate Hutton employees who will join the 15,000 in the securities industry who were idled.

ALBERT SCHOENFIELD

Rancho Palos Verdes

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