Word: raider
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Dates: during 1980-1989
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...natural trader's ability to talk on several telephones at once. It was as if he had stored up millions of kilocalories of energy during his aimless years and was now unleashing them on an unwary Wall Street. "Boesky did not really need to cheat," observes Corporate Raider T. Boone Pickens. And yet he did. His relentless drive to get an edge appears to have pushed him right over it. Boesky seemed to expect something like that might happen. "I can't predict my demise," he once said, "but I suspect it will occur abruptly...
...Chairman Carl Icahn, 50, the Manhattan-based corporate raider currently involved in an $8 billion takeover bid for Pittsburgh-based USX. The Washington Post last week quoted unnamed sources to the effect that Icahn and Boesky, who in 1985 owned more than 5% of Gulf & Western's stock, had collaborated to run up the price of those shares by fueling rumors that the company would be a takeover target. The two then sold their shares back to Gulf & Western for a profit. That ploy would have amounted to illegal stock manipulation. In a memorandum to his TWA staff, Icahn denounced...
...Victor Posner, 67, another well-known corporate raider who lives in Miami Beach. Between 1984 and 1985, Posner paid about $80 million to acquire control of New York City-based Fischbach, the largest electrical contractor in the U.S. Boesky had also bought 13.4% of the shares of that company. In September, Posner was granted a new trial by a federal judge who overturned his July conviction on charges of evading $1.2 million in income taxes. Posner will neither confirm nor deny that he was subpoenaed...
Gamble gained more than 100 yards in a game for the 16th time in his career, equalling the school record set by Rich Erenberg, now with the Pittsburgh Steelers. He also went over 1000 yards for the season, becoming the first Red Raider in two seasons to do that...
Corporate Raider T. Boone Pickens of Texas has long argued that his takeover forays are in the best interest of small shareholders. Now Pickens has a lobbying organization to help him defend that proposition. Last week in Washington, the wily acquisitor unveiled the nonprofit United Shareholders Association. The group's first goal: a "one share, one vote" rule that would hinder corporate managers from foiling takeover proposals that come up for stockholder votes. At many firms, management-controlled ballots carry more weight than an equal number of votes controlled by those of small stockholders. Said Pickens: "Shareholders are treated like...