Lost Assignment of var in shell for loop with stdout redirection

[guy at gorodish.UUCP]

>>shell variables set inside the loop won't be available outside of it.
>
>The /bin/sh distributed with 4.nBSD (for n <= 4, at least) is a really
>old, buggy, puny version of the Bourne shell.

Unfortunately, the new, bug-fixed, whizzy version supplied with
System V, Releases 2 and 3 does the exact same thing.