Word: celotex
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Dates: during 1960-1969
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Last year Eddy Gilbert set his sights on a new target: Celotex Corp., a $62 million-a-year Chicago building materials firm...
...last April, he had picked up 14% of Celotex's outstanding stock. Alas. Celotex shares began to slip-from $41.75 in March to $25 on Wall Street's Blue Monday. Since Gilbert presumably bought most of his Celotex stock on margin or had used it as security for loans to buy still more, he stood to see it sold out from under him unless he could raise more collateral. Evidently assuming that he could make restitution when the market rose again, he began writing out checks, and with remarkable ease persuaded other Bruce officers to countersign them...