Word: buys
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Dates: during 1980-1989
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...participant. "He actually wants to sit there at the table and listen to Darman fight with Reilly." Darman argued in one meeting that the clean-air proposals were too expensive for the health and safety benefits gained. "For the same amount of money," the Budget Director said, "we can buy everyone in America rubber- soled shoes, because the chance of being killed by toxic gases is about the same as being killed by lightning." Bush is proud of these bouts and prefers them to the staged-managed sessions held for Reagan. "I've been to Cabinet meetings when ((they have...
Either way, Davis is likely to score big, which is his habit. He used his oil profits in 1981 to buy 20th Century Fox, then sold it to Rupert Murdoch four years later for an estimated profit of $325 million. Davis picked up another $50 million by buying the Beverly Hills Hotel from the family of insider trader Ivan Boesky in 1986, then turning around and selling it to the Sultan of Brunei. Even Davis' "dry hole" takeover attempts often pay off. While Los Angeles investor Alfred Checchi won Northwest with a $4 billion bid, for example, Davis pocketed...
...normal for someone in real estate to loan, buy and sell," Walsh said. "I have a right to conduct business. By law, it's clean and I've done everything openly...
...type of shady deal was "front-running," in which a broker profits from advance information by trading ahead of a customer's order. A crooked broker might receive an order, for example, to buy 250,000 bu. of soybeans at $5.85 a bu. He could easily execute his own order to buy 50,000 bu. first. Later, when the market reacted to the larger order by pushing prices up to $5.95, the trader could sell his contracts, pocketing $5,000 in profits. A second illicit practice uncovered by the feds was "curb trading," in which brokers conspired to consummate deals...
...nearly two decades Princeton/Newport paid investors a 19% annual return by using computers to take advantage of small discrepancies between the prices of stocks and their associated warrants, which are the rights to buy stocks at a certain price. But then founding partner Jay Regan got greedy. According to the Government's case, the Princeton/Newport executives tried to manipulate the market, starting in mid-1984, through a technique called stock parking. They arranged to sell some securities at a loss and then repurchase them at the same or slightly higher prices. The party ended one wintry day in 1987, when...