Word: helpful
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Dates: during 1960-1969
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...takeover bid by Bucyrus-Erie Co. not long ago by writing and telephoning some 3,000 stockholders, joining a hastily formed committee of Racine citizens in buying up its own shares in the market. Sharon Steel Corp. boosted its annual dividend from 60? to 80? a share to help fend off a tender offer by Honolulu Industrialist George W. Murphy. Julius Garfinckel & Co., the Washington-based retail chain that controls Manhattan's Brooks Bros., last year rebuffed a tender takeover attempt by Genesco, Maxey Jarman's shoe-and-clothing combine, after two court fights and a bitter exchange...
Protecting the Stockholder. Despite their swift ascendancy, cash tender bids remain beyond the scrutiny of the SEC-a fact that enhances their popularity. But the SEC feels that "the unwary public" needs protection, notably more information to help stockholders evaluate confusing claims of rival tender offers. Accordingly, the commission is backing a bill by New Jersey's Democratic Senator Harrison Williams that would require a tender bidder to disclose his name, financing arrangements, and any plans he has for the firm. Though most brokerage firms and investment bankers favor regulation, many disagree with one part of the bill, which...
...Careless. In any case, the investigations-and the rumors-will continue, much to the dismay of the Amex and the other exchanges. They are getting bruised mainly because many brokers have grown all too careless with their customers-and their customer's men. Last week, to help brokers spot telltale signs of manipulations in the future, the Amex began issuing computerized weekly and monthly reports, which show how actively each of its 573 member firms have been trading in each of its 1,060 listed stocks...
Before taking that plunge, Myers and Kenison rounded up three friends to help: Adman William L. Pereira Jr., 29, son of the famed architect-planner; Lud Renick, 37, a realty and restaurant investor; and Lawyer Mark T. Gates, 30. "None of us knew what we were getting into," recalls Pereira. "At first, it didn't look too difficult. If we'd known, we probably would not have started." Sensibly, their first move was to recruit two veteran aviation consultants: Thomas Wolfe, 65, a onetime vice president of both Western and Pan American, who is now Air California...
...year. To do so they must win back Charles de Gaulle, who is so dissatisfied with the American solution at Machines Bull that he is approaching the computer business with a different viewpoint. The French government expects to put at least $112 million in its Plan Calcul, which will help small French computer companies to pool know-how in order to cut a bigger Gallic figure in the field. This obviously will mean more competition for Bull and make its comeback that much more difficult...