Word: profit
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Dates: during 1980-1989
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...fundraising, tuition, andincome from the endowment bankrolls the budget.The FAS endowment, invested by Harvard ManagementCompany along with the graduate school endowments,has skyrocketed over the last year past $1.4billion. But in the past decade, tuition andfundraising have had to provide for a greaterportion of the budget compared to profit from theendowment. The percentage that the endowment paysfor dropped to a low of 26 percent for next yearwhile tuition finances more than half of thebudget...
...small-time dealer in Los Angeles can buy an ounce of cocaine for $1,000 to $1,500. Since each ounce contains 28 grams and each gram can produce up to six rocks that he can sell for as much as $25 each, the dealer can realize a profit of around...
...theory is that Levine was plugged into a network of arbitragers, the investors who speculate on takeover battles. The arbs, as they are called, typically buy shares in a takeover target after a merger bid is announced. They hope to make a quick profit because rival suitors may start a bidding contest and drive up the price of the stock. Some arbs seem to know about proposed takeovers before they are announced...
...Levine's insider trades, was charged last week as an accomplice in the case. Their first transaction took place in May 1980, when Levine was an associate at Smith Barney. He bought 1,500 shares of Dart Industries and sold them less than two weeks later for a modest profit of $4,000, when Dart announced that it was merging with Kraft...
...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...