Word: reapings
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...Singer Co. for $1.06 billion last February partly because the crash had depressed its stock price. Since then, Bilzerian has sold off eight of Singer's twelve divisions for a total of $1.94 billion, more than enough to cover all his costs. In the end, he is expected to reap a $300 million profit. The Government is investigating his earlier raids for possible securities-law violations, which he denies having committed...
...arrangement with Ivan Boesky, the Manhattan financier now serving a three-year prison term for insider trading. From 1984 until late 1986, according to the Government, Boesky secretly bought and sold huge blocks of stock at Drexel's behest to push forward the firm's takeover deals and to reap millions of dollars in illicit profits. Five others were charged as participants in Drexel's schemes: Milken's younger brother Lowell, an attorney who works in the company's junk-bond department; Cary Maultasch and Pamela Monzert, traders for the firm; and the Miami-based industrialist Victor Posner...
...entrepreneurs know that if they succeed they can reap far greater financial rewards than can the most generously salaried worker. An estimated 2 million U.S. men and women are millionaires, and nearly 90% of them earned their fortune by starting their own firm. The small-business boom shows no signs of slowing. Even last October's stock-market crash discouraged start-ups only briefly. Jane Morris, editor of the Venture Capital Journal, reckons that venture funding for new enterprises this year may surpass last year's record of $3.9 billion...
Since the crash, many legislators have urged a clampdown on program trading, in which large blocks of stocks and futures contracts are simultaneously traded to reap a quick profit from price discrepancies. The Big Board has imposed its own safeguard: a ban on the practice whenever the Dow Jones industrial average falls more than 50 points in one session. But the new study is likely to ease the pressure for more controls. Said Robert Kirby, a Los Angeles money manager who has attacked program trading in the past: "If the numbers stay like this, it may go away...
...These are my hills," a Coal Valley News editorialist wrote more than 30 years ago. His words are no less pertinent today: "I do not hold title to the lands, but I reap every benefit and every injury to them. Believe it or not, you and I are the guardians of these hills. They are God's hills and we are the keepers. More than that, we shall inherit the manifold blessings of the hills. They are our hills...