Word: litton
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...that he ran the firm, Ford gathered around him men who became important leaders in their own right. Among them: Robert S. McNamara, Secretary of Defense under Presidents Kennedy and Johnson and later head of the World Bank; Chrysler Chairman Lee Iacocca; and Charles ("Tex") Thornton, who co-founded Litton Industries. Yet none of them ever claimed to understand the man they always addressed as Mr. Ford. When he died last week of complications from pneumonia in Detroit's Henry Ford Hospital, he was still unfathomable...
...biggest insider-trading scandal in Wall Street history kept reverberating last week. Litton Industries, the Beverly Hills-based conglomerate, filed a $30 million lawsuit against Shearson Lehman Bros., the finance-cum-brokerage firm, and Dennis Levine, the ex-investment whiz who has already pleaded guilty to a variety of insider-trading charges filed by the U.S. Government. Litton's contention: that in November 1982, while Levine was employed by Lehman Bros. Kuhn Loeb (now merged into Shearson Lehman), his illicit trading activities helped puff up the price of stock in Itek, an electronics firm, just as Litton was preparing...
...would receive a takeover bid from Limited Inc. Since the stock's value spurted as a result of the tender offer, he cleared a $95,000 profit. Levine bought 33,000 shares of Carter Hawley Hale and made $222,000. Sokolow, meanwhile, leaked advance information to Levine about Litton Industries' 1982 bid for Itek and R.J. Reynolds' 1985 offer for Nabisco Brands. For those tidbits, the SEC said, Sokolow was paid...
...time went on, Levine's purchases--and profits--grew larger. In November 1982, after joining Lehman Bros., he bought 50,000 shares of Itek. He sold the stock two months later, after Itek was acquired by Litton Industries, netting $805,035. By last May Levine had joined Drexel Burnham Lambert, and in his most lucrative deal yet, he bought 150,000 shares of Nabisco. Three weeks later, speculation over Nabisco's merger talks with R.J. Reynolds enabled him to sell the stock for a profit...
...deal with companies in that area [Cambridge] such as Raytheon and [Charles Stark] Draper Laboratories," said Richard G. Doom, of Litton's strategic systems division...