Word: ronson
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Dates: during 1990-1999
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Analysts warn that the quality of firms going public is likely to decline the longer the IPOfest lasts. In a correction, these weaker issues would fall faster and harder than the general market. "A strong market opens the window for butterflies and hummingbirds," says Charles Ronson, a New York City stock analyst who publishes the newsletter IPO Value Monitor. "But it also lets in the houseflies and spiders...
...their supporting roles in the affair, Gerald Ronson, the chairman of Heron International, a multinational real estate and service-station empire, was sentenced to a year in jail and a $9.7 million fine, while stockbroker Anthony Parnes drew a 2 1/2-year term. A fourth defendant, financier Sir Jack Lyons, will be sentenced later this month. Unlike Boesky, Saunders will no longer have millions when he emerges from prison: before sentencing, he was forced to apply for the British equivalent of welfare to survive...