Word: manuel
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...Under Manuel Cohen, the SEC's activist chairman since 1964, the insider has become a much more visible target. The key to the SEC's current approach is Rule 10b-5 of the 1934 act. A broadly worded regulation against fraud in trading, 10b-5 has been interpreted in the courts to mean that all investors must be guaranteed "equal access" to "material information" that might influence stock prices. In effect, it broadens the definition of insider to include anyone privy to information and requires him not to act on it before it becomes public knowledge...
From the outset, though, Belaúnde was at odds with the Peruvian Congress. His Actión Popular party was not strong enough to outvote his opponents, the coalition of ex-Dictator Manuel Odría's upper-middle-class followers and the left-of-center American Popular Revolutionary Alliance (APRA), headed by Old Liberal Victor Raúl Haya de la Torre, His budgets rose from $400 million to more than $1 billion annually, and the country's cumulative deficit grew to $555 million. Tax dodging by the privileged was flagrant, but Bela...
...announcement of the prospective merger between Loew's and Lorillard took Wall Street by surprise. Negotiations had been secretly carried on in suburban Scarsdale, N.Y., where both Loew's Chairman Laurence A. Tisch and Lorillard Chairman Manuel Yellen live. Meeting at the Tisch home in Scarsdale, Tisch and Yellen were able to work out within one week a deal by which Lorillard's product line (Kent, True, Newport, Old Gold and Spring cigarettes, Tabby cat food and Reed candies) will join the 14 hotels and 110 theaters controlled by Tisch and a younger brother. The merged company...
...this year, but the drive to erase insiders' advantages in the stock market started long ago. The agency established in 1961, in the Cady, Roberts case, that a broker who buys or sells stock on the basis of inside information commits fraud. Such police work intensified after Lawyer Manuel F. Cohen, an austere career civil servant, took over as SEC chairman in 1964. In the Merrill Lynch case, the SEC contends that not only the inside-tip giver is acting illegally, but also-and it is a word that was heard all over the Street last week -the "tippee...
Many shipowners agree with President Manuel Diaz of American Export Isbrandtsen Lines that the Soviet fleet is a "very real threat." Since the Soviet government need not show a profit on its ships, goes the argument, Communist ships could easily cut rates and drive free-world ships out of business. For their part, the Russians say that they are anxious to join the rate-setting conferences that they once condemned as "capitalist cartels." "I see no reason why we should not operate like other shipping men," says George Maslov, London-based boss of Russia's Anglo-Soviet Shipping...