Word: investors
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Dates: during 1980-1989
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Clients are besieging tax advisers with questions about what to buy and what to sell before the end of the year. The stakes are hundreds or even thousands of dollars in tax savings for 1986 alone. Says Alan Klein, a Roslyn, N.Y., dentist and investor: "We're suddenly in a new world...
...smaller trust contains $80,000 in Caterpillar stock and $70,000 in Texaco. Both companies comply with the Sullivan Principles, according to a spokesman for the Investor Responsibility Research Corp. in Washington...
...Paley will be acting chairman and Tisch will serve as chief executive. For the 84-year-old Paley, it is a triumphant return to a throne that he had never really wanted to relinquish. But clearly the man who has captured control of CBS is Tisch, 63. The shrewd investor and conglomerateur is now far and away the company's largest shareholder, with 24.9% of its stock (Paley is next with 8.1%). The irony of Tisch's sudden rise to dominance was considerable, since the soft- spoken, bald executive first purchased CBS shares last year largely at Wyman's behest...
...succeed. He found Tisch, largely at the urging of CBS Board Member James Wolfensohn, a friend of the billionaire's who is also a former partner at the Salomon Brothers investment firm. According to Wolfensohn, Tisch had become interested in CBS during the Helms takeover crusade, which the investor deplored...
...Wyman was perhaps more alarmed by Tisch. Says Paul Kagan, publisher of the industry newsletter Broadcast Investor: "It was pretty obvious early on that Tisch was something more than the man Wyman invited in to help stop a takeover." Along with some $750 million that he has poured into CBS stock, Tisch had made a strong and still growing commitment of his personal attention to the network. Wyman and his supporters on the CBS board -- at one time they numbered at least eight -- began to worry that their white squire was a serious takeover threat...