Word: optionable
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Dates: during 1950-1959
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...Chairman David Sarnoff and President Frank Folsom lost more than a million dollars in paper profits because of a drop in RCA stock. Under a stock option, exercised last February when RCA stock sold at 29, Sarnoff bought 100,000 shares and Folsom bought 50,000 at 17¾ as a long-term investment, with money borrowed from the banks. But during the six months they had to hold the stock under SEC regulations, the market price tumbled. Pressed by the banks, they were forced to sell 105,000 shares in all, for a profit of roughly $290,000, taxable...
...have an option," Bender said. "We could eliminate all commuters. Of course, we wouldn't want to do it. Rather, from our dorm space limitations, we would like to double the number of commuters...
...Plaza is George Preston Marshall, laundryman and owner of the Washington Redskins football team. For years he has thought that the land should be developed, and last year he persuaded Builder John W. Harris, who put up Washington's Statler Hotel, to form a syndicate to take an option on the land. Though the financing of the development is not completed and only the hotel and one office building (to cost a combined $30 million), and the plaza and garage have reached the blueprint stage, construction is expected to begin within six months...
...pages. Hearst's New York tabloid, the Daily Mirror, which seldom passes up any story with a sex angle, explained to its readers that it ran this "supposedly . . . scientific effort [because] we felt we could not become overpious and fail to publish it." Scripps-Howard editors had local option on how to handle the story, e.g., the San Francisco News ran only an explanation of why it was leaving Kinsey out ("This is adult reading"), while Denver's Rocky Mountain News cut out the data on teenage petting. Other editors had more trouble figuring out euphemisms for Kinsey...
They usually run for five or ten years, and give top men the right to buy stock in their companies for as little as 85% of the market price at the time the option is issued. Stock options have persuaded many a top executive to switch jobs. Example: Ford lured Executive Vice President Ernest Breech away from a top G.M. job by offering him an option to buy Dearborn Motors stock. James Nance quit Jlotpoint's presidency (and a promising future in parent G.E.) to take over Packard, with an option to buy 200,000 shares of Packard stock...