Word: firmed
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Dates: during 1980-1989
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When anyone at Drexel Burnham Lambert talks, the Government may soon be listening. Last week the investment firm said it would submit to unprecedented federal supervision as part of an agreement with the Securities and Exchange Commission to settle charges of insider trading and stock fraud. The deal will enable Drexel to proceed with a separate settlement of criminal charges, first announced last December, for which the firm will pay $650 million in fines...
Drexel's pact with the SEC, which must be approved by a federal judge, will allow the firm to close the book on a 2 1/2-year federal probe. But the price is high. The agreement puts Drexel on probation for three years and requires it to set up an oversight committee. The firm is also naming a new chairman, former SEC head John Shad, to succeed Drexel's Robert Linton. As expected, the deal forces Drexel to cut all ties to its former junk-bond king, Michael Milken, who is facing separate criminal charges of racketeering and securities fraud. Last...
...June 1988, a sit-in at the office of Overseer Thomas L.P. O'Donnell '47 at the Boston law firm Ropes and Gray resulted in the arrest of 18 people, among whom were two Harvard undergraduates...
...least wash our hands of I percent of the problem we face? Because the selective barring of ads merely highlights our hypocrisy. At the same time Eastern Airlines is being struck, workers are picketing Shawmut Bank--a frequent Crimson advertiser--for its ties to a union-busting firm now hurting thousands of striking Appalachian coal miners. Are these workers any less oppressed than Eastern strikers and any less worthy of our political notice...
...combat zone. In Minnesota directors of NWA, the parent company of Northwest Airlines, broke a week-long silence by rejecting a $2.6 billion takeover bid from a group headed by Los Angeles investor Marvin Davis. In spurning the $90-a-share offer, NWA Chairman Steven Rothmeier, 42, said his firm fully intends to remain independent. But Davis, whose group owns 3% of NWA's shares, vowed to press ahead with plans to acquire the company and its prize asset, Northwest, the fourth largest U.S. airline. The Californian's bid has raised the hackles of many Minnesotans, who are still smarting...