Word: prohibition
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...were virtually guaranteed to rise sharply. Spitzer filed a legal action last week. A prominent target is former WorldCom CEO Bernard Ebbers, who made $11 million in trading profits over four years on IPO shares he bought through Salomon, according to documents obtained by Congress. Spitzer would like to prohibit IPO allocations to executives that can't be justified by the amount of business those executives provide their broker through personal accounts. "You cannot give shares in an effort to persuade the CEO of a big company to bring business to your investment bank," Spitzer told Time. "That's commercial...
...Jersey Supreme Court rightly decided, election law does not prohibit the replacement of a name on the ballot at such a late date. The law is silent on the procedure for filling a vacancy later than 51 days before the election, which gives the court the right to decide the appropriate procedure. As a result, the court—which includes two Republicans—was right to interpret the election laws liberally in order to create a “full and fair ballot choice for the people of New Jersey.” The entire point...
Like Harvard, Lehigh faces the challenge of recruiting without athletic scholarships—the Patriot and Ivy Leagues are the only two Division I conferences that prohibit athletic scholarships...
Other area schools, such as Emerson College and the Boston Conservatory, do not prohibit non-students from participating in their shows but, in practice, they use very few outside actors...
Because most corporations have policies that prohibit gender discrimination, membership of company officers at Augusta could be viewed as a conflict. Such leading lights as Sanford Weill of Citigroup and Warren Buffett of Berkshire Hathaway are members. So is Kenneth Chenault of American Express, one of a handful of black members at the Georgia golf club. Sources tell TIME that Microsoft co-founder Bill Gates recently became a member. General Electric is still paying the fees for retired chairman Jack Welch, according to papers filed in Welch's divorce proceedings. None of the golfing chiefs are talking: members are required...