Word: columning
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Dates: during 1980-1989
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...McGraw-Hill magazine hoped that no company employee would be implicated. But last week the scandal struck home: Business Week announced that S.G. ("Rudy") Ruderman, who had broadcast radio reports for the publication for seven years, may have illegally traded stocks mentioned in the "Inside Wall Street" column before the magazine hit the newsstands. The New York Stock Exchange had alerted Business Week to suspicious trades that Ruderman allegedly made this year...
...Merrill Lynch Broker William Dillon, 33, is believed to have paid employees at a magazine printing plant in Connecticut to give him copies of Business Week a full day before the issue was available to the general public so he could buy stocks recommended in the "Inside Wall Street" column before the price went up. Dillon typically paid $30 an issue, but allegedly reaped profits of $2,000 or more a week...
...were also privy to the Business Week leaks. Many brokerages have turned over their trading records to the New York Stock Exchange, which is conducting a computer analysis. Says one investigator: "There is nowhere to hide. We're going to catch anyone who profited by advance knowledge of the column." Such individuals could face criminal charges for wire and mail fraud...
...least the past two months, editors at Business Week have been secretly looking for snoops: people who were apparently sneaking an early peek at the magazine's "Inside Wall Street" column in order to make a quick profit by buying stocks mentioned favorably before regular readers could do so. Last week the probe, which has been joined by Government investigators and stockbrokerage officials, finally turned up several suspects...
...That column was meant to be humorous, but the idea of Bush picking an attorney general as his running mate is still a good one. It's just that the man for the job isn't Meese, it's Richard L. Thornburgh...