Word: brokering
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Intelsat began getting suspicious a year ago, when Charles Gerrell, an Arkansas mortgage broker who was later convicted with Colino of conspiracy to commit fraud, demanded payment of a commission for arranging a construction loan. A spot internal audit discovered that no such payment was due. Further auditing by Peat Marwick revealed other oddities. In early December 1986, on his return from a jaunt to Australia, Colino found his eighth-floor office sealed off by armed guards. He was escorted from the building shouting, "I'm taking names! I'm going to kick butts when I get back in power...
...caused house prices to surge in many exclusive towns, especially on the East and West coasts. The average sale price of a home in Bradbury, Calif., a Los Angeles suburb, has in the past year gone from $459,000 to $610,000, according to a survey by the nationwide broker network of RELO, a Chicago-based relocation service. In Greenwich, Conn., northeast of Manhattan, the average cost has skyrocketed incredibly, from $467,500 to $1.2 million since the summer of 1986. Prices are not rising that fast in heartland suburbs, but almost every region of the U.S. has a strong...
...unfortunate." The timing of the raids was "deplorable," he said, both because they create a new threat to U.S. warships in the gulf and because they came at a moment when Iran had for the first time begun sending signals that it might cooperate with the U.N. effort to broker a cease-fire...
...factor that has contributed to the big yacht boom is satellite communications. International Broker George Nicholson, whose British family has been constructing boats for crowned heads and deep pockets since 1782, explains, "Most of the men who own large yachts are workaholics, and they get very nervous if they are out of touch with their offices. They used to plan their cruises around ports with telephones." Now, thanks to satellite linkups, clear communication with the mainland is available from telephones, usually in every stateroom. Telex and facsimile machines transmit contracts and newspapers. "We can consummate a deal anywhere," says...
...market like this," says Donald Stone, a member of the New York Stock Exchange since 1950 and one of its vice chairmen. "The market has spiked up without any meaningful correction; it won't even pause to catch its breath." Peter Cohen, a New York City real estate broker and large investor, muses, "Even in the sizzling '60s, it was an article of faith that what goes up must come down. But those who have played by this rule now have left huge amounts of profit on the table. I have sold at a profit, then bought the same stock...