Word: chicago
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...even the most sweet-tempered soul, August is a test of patience and ingenuity, when office workers lunch by a fountain and hope for a strong wind. Shoppers browse through Chicago's Hammacher Schlemmer, lured by inflatable water shoes (pontoons for the feet), or a solar-powered ventilated golf cap, or, for sun worshipers who don't know any better, a sun-tracking beach chair that rotates 360 degrees for maximum exposure. For those who prefer refrigeration to recreation, swank, Dallas-based Neiman Marcus is prepared to cater a private picnic for customers in its fur vault, which is kept...
...months Chicago's commodities traders had been nervously waiting for the big shoe to drop. The FBI announced last January that its agents had quietly penetrated the trading pits at the Chicago Board of Trade and the Mercantile Exchange and found them to be full of snakes. Since then the bureau's investigation -- the most extensive ever conducted into any financial market -- has been proceeding, not so quietly, as more than a dozen traders have been pressed into cooperating with the Government. Last week, with FBI director William Sessions and U.S. Attorney General Dick Thornburgh in Chicago for the occasion...
...institutions. Because it allows prosecutors to seize all assets -- including homes, salaries and pensions -- of those indicted, many people facing a RICO count offer to inform on their former colleagues in exchange for leniency. Last week Anton Valukas, the U.S. Attorney who supervised the 2 1/2-year probe, advised both Chicago exchanges that if the RICO-charged traders are convicted, the prosecution intends to lay claim to their membership seats, a $7.5 million prize...
...eleventh-hour amends are unlikely to save the exchanges from increased regulatory scrutiny. Last week the House Agriculture Committee voted to boost the budget of the Commodity Futures Trading Commission, which oversees the Chicago markets, from $34.7 million to $44.5 million by 1991. And in a step designed to prevent front-running, the committee moved to partly restrict brokers from trading for their own and their clients' accounts at the same time...
Some of the exchanges' critics want to go further. They recommend that Chicago's quaint system of making deals with shouts and hand signals be replaced with automated computerized trading, as has been done in Tokyo and London. "It is time to jettison this Rube Goldberg . . . system and replace it with a sophisticated electronic system that records trades as they happen," said Massachusetts Democrat Edward J. Markey, chairman of the House subcommittee on telecommunications and finance...