Word: broker
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...outlook is cloudier in Michigan. A nearly unanimous board of directors of Pontiac's Community National Bank is working hard to thwart a tender offer by Ahmad C. Sarakbi, 45, for 50.1% of the bank's shares. A wealthy Lebanese oil broker, Sarakbi is supported by a former chairman of the bank who deplores its present management policies, and a lone director who has been feuding with his colleagues. Sarakbi insists he is acting completely on his own, but Community National directors worry that he could be acting for larger non-government Middle East oil interests looking...
...stock for which the investor holds an option jumps in value, he can then buy the shares at the prearranged rate, resell them at the higher market price and, after subtracting the option premium and usual broker's selling commission, perhaps turn a profit. Or he can sell the option itself at a higher price and take a capital gain without even buying the stock. If the shares drop in value, the investor can choose not to buy them; in this case his loss is limited to his original investment in the option...
...POWER BROKER by Robert Caro...
...serious offer," says James F .Alley, Cohn's broker, just as emphatically. "My client was not a facetious person." Alley says Harvard made it clear it was not interested in Cohn's proposition because it wanted $500,000 more than he had offered...
James Alley, a Vineyard real estate broker, says he knew of plenty of people who were interested. "It seemed rather strange that Harvard didn't pursue the deal with island brokers who had people interested in buying." he says. "They almost acted as if they weren't interested in selling...