Word: rigging
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...shame. The cases before him, said Federal District Judge J. Cullen Ganey, were "a shocking indictment of a vast section of our economy." They were more than that. They showed clearly that the executives of a mighty industry, publicly devoted to the concept of competition, had privately conspired to rig prices to the detriment of their customers on a scale so vast that it embraced everything from the Tennessee Valley Authority to the private utilities that supply the nation's light and power...
...Electric and Westinghouse, and 44 of their executives. Long ago, faced with incontrovertible evidence gathered by the Eisenhower Administration's relentless trustbusters, the companies and individuals had pleaded guilty or nolo contendere (no contest) to charges that they conspired over the past seven years to fix prices and rig bids in the sale of some $7 billion worth of heavy electrical equipment (TIME, Feb. 29, 1960, et seq.). Now the moment of reckoning had come. First before the court came the lawyer for John H. Chiles Jr., 57, a vice president of Westinghouse, to plead for mercy. His client...
...more primitive Wall Street shenanigans to rig the price of a stock have long been outlawed. But Wall Street is confronted with a new, more complicated phenomenon: the growing refinement of the art of running up a stock by legitimate publicity techniques-and by some not so legitimate. This year the number of people criminally indicted by SEC for false or misleading stock information has increased 38%. The New York Stock Exchange, concerned over the flood of inside tips on corporate developments, last week issued a warning reminder to listed companies that any information likely to affect a stock...
...took ten sticks of dynamite, some blasting caps and wire, and began to shadow Jack Kennedy. He cased the cottage in Hyannisport, sized up the house in Georgetown, headed south for Palm Beach. "The security," he said later, "was lousy." His plans were to rig himself up as a human bomb and explode in Kennedy's presence. "The Kennedy money bought him the White House," Richard Pavlick said. "I wanted to teach the United States the presidency is not for sale...
Figuring that the drilling problems encountered in piercing the crust of the lava lake to its molten core would be similar to tapping the heat of molten rocks created by a man-made blast. Rawson and Higgins set up a gasoline-driven rotary drilling rig in the middle of Kilauea Iki's cone on the steaming crust of the lava pool. Using compressed air as a coolant, they drilled a 3½-in. hole into the crust at the tedious rate of 1½ ft. every eight hours. The 1,652° heat damaged the diamond bits and jammed...