Word: broker
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...interview with TIME last week, Bremer, dressed in an ensemble befitting a Washington power broker in a war zone--pinstripe suit, red tie, white pocket square, combat boots--was keen to emphasize the coalition's successes but seemed all too aware of growing Iraqi impatience. "Saddam took 35 years to run the place down, and it's not going to take 35 days to fix it. People need to be patient. And I know that's hard when the temperature's 124° and the electricity goes off. But that's the message, and that's the only message there...
...quick, to diversify holdings, eliminate competition, or even to outsource tasks such as research and development. Then the bubble burst, stock prices plummeted and many firms - and their shareholders - saw their merged dreams vanish. "People bought air," says Jean-No?l Vieille, equity research director at the French broker Aurel Leven. Companies slammed on the merger brakes - which helped shut down an already dragging global economy. Now a new flurry of eye-catching deals is pointing to a recovery. In the U.S., the software company Oracle has launched a $6.3 billion hostile bid for rival PeopleSoft. In Europe, BP and Russia...
...CALLED. Many preferred shares are "callable," meaning that the issuing company has the right to cancel them on a certain date if interest rates have fallen sharply. Always find out whether and when a preferred issue is callable. Insist that your broker give you not just the current dividend yield but also the "yield to call." That will estimate your income if the issue gets yanked away...
...Department of Justice and the SEC have been investigating Stewart since early January 2002, just days after she sold about $228,000 of ImClone stock. It was a decision she made grudgingly, according to testimony given to the SEC by Stewart's broker at Merrill Lynch, Peter Bacanovic, because it meant admitting she was wrong. Bacanovic said he and Stewart had reviewed her entire portfolio in a pre-Christmas session of tax planning and disagreed about what to do with her 3,928 shares of ImClone. "She wanted to hold the stock, and I challenged that by saying, 'The stock...
...criminal insider-trading case against the pair because the government would have to prove that Stewart knew the significance of Waksal's sale when she sold the stock. "It's a tricky case," says Greg Markel, a securities-law specialist at Cadwalader Wickersham & Taft in New York City. A broker passing along a tip from one client to another "is not that unusual," says John Teakell, a former SEC litigator in Dallas. (In Bacanovic's case, says a defense attorney, "it probably could have been a lot subtler...