Word: belled
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Dates: during 1980-1989
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According to articles published in several papers, Bell has found that top Hutton officials bear indirect responsibility for failing to install the types of controls that could have prevented or uncovered the scheme. Bell reportedly also found that Thomas Morley, a senior vice president in charge of cash- management activities, failed in his duty by not detecting the overdrafting...
...Bell reportedly also singled out Perry Bacon, a former manager at Hutton's Alexandria, Va., branch. Bacon's office sometimes had overdrafts of $9 million on deposits of only $100,000. He has since become vice president of a Hutton branch in Washington...
...Whether Bell's findings will clear Hutton's name is uncertain. Some Wall Streeters think the worst is over for the company. Says Analyst Stephen Berman at L.F. Rothschild, Unterberg, Towbin: "Investigating Hutton has become the fashionable thing to do, but just how long can you beat a dead horse...
Hutton has not said whether any employees will face disciplinary action as a result of Bell's investigation. Many people in the financial community, though, expect that the company will soon announce a shake...
...have also become top sellers. Japan's Cateye makes a $66 solar-powered magnetic device that tells a % biker the average speed and distance traveled. San Diego-based SkidLid Manufacturing produces a $52 helmet with a rear-view mirror. There are even accessories for babies: the $30 L'il Bell Shell helmet is designed for tots riding on the back of their parent's bike...