Word: broker
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...probe of insider trading based on purloined early copies of Business Week magazine expanded to include at least 16 suspects on both coasts. In the most fully investigated case so far, former Merrill Lynch Broker William Dillon, 33, is believed to have paid employees at a magazine printing plant in Connecticut to give him copies of Business Week a full day before the issue was available to the general public so he could buy stocks recommended in the "Inside Wall Street" column before the price went up. Dillon typically paid $30 an issue, but allegedly reaped profits...
Merrill Lynch fired William Dillon, 33, a financial consultant in its New London, Conn., office. Prudential Bache dismissed Brian Callahan, 28, a broker in its Anaheim, Calif., branch. Another investment firm, Advest, suspended an unnamed broker in its Hartford office...
...Torrance, Calif. Investigators were looking into reports that Dillon had been meeting at breakfast on Thursday mornings with printers coming off the night shift at the Connecticut plant. Dillon may have used the information to buy stocks on Thursday, then sold them at a profit the following Monday. The broker, who could face fraud charges, reportedly admitted to co-workers that his tips came from Business Week, but claimed he was getting an early copy at a newsstand. Investigators are uncertain whether the other brokers were in on the scheme...
...impresario behind last week's inaugural flight, James Stimpfle, has more than glasnost on his mind. The Nome real estate broker hopes to make Siberia a major tourist attraction, with regularly scheduled air shuttles and even a cruise ship. But Provideniya in the Soviet Far East has drawbacks: it has no hotel and only one restaurant. Cement mixing and reindeer-hide tanning are its major enterprises. The architecture runs to concrete boxes. Then there is the climate: only Eskimos may consider 30 degrees F in June balmy...
Brown, 54, is uniquely qualified for the role of power broker. He has reigned for a record seven years as speaker and self-described ayatullah of the California assembly. He is respected for a quick intelligence, a quicker tongue and long experience in mediating among competing interests. Says Jackson Campaign Manager Gerald Austin: "He's one of those people who can walk into a room full of other strong-willed political people, and everybody knows he's in charge...