Word: sec
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Dates: during 1970-1979
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...throw a spotlight on wrongdoers. He heads the enforcement division of the Securities and Exchange Commission, which brings charges against companies for violations of securities laws and thus polices 9,000 public companies, 3,500 brokerage houses, 3,700 investment advisers and 1,300 investment companies. Though the SEC's traditional concern is to stop fraudulent or manipulative stock transactions, Sporkin has also interpreted his mandate to include forcing companies to disclose the facts about bribes, kickbacks and illegal political payoffs. If that view of how to protect stockholder interests causes complaints-and it does-Sporkin has the almost...
...felt that they would undermine the pre-eminence of the organization he headed. For example, he favored the idea of one central U.S. securities market, as long advocated by the Securities and Exchange Commission, but he left no doubt that he wanted the N.Y.S.E. to be that market. The SEC, on the other hand, wants a computerized network that would tie together all U.S. stock exchanges...
...former member of the SEC, Needham was not the first or even second choice of N.Y.S.E. directors to become the Big Board's first full-time chairman and chief executive under a sweeping reorganization that abolished the old board of governors. It was replaced with 21 directors-ten elected from the brokerage community, ten from the business community at large, plus the chairman. Directors thought that Needham's commanding demeanor and SEC background would help Wall Street in coping with change...
...gradually lost it as his stands on crucial issues alienated one group after another. He would, in Don Quixote fashion, stand against reform long after almost everyone else had given up and prepared for the inevitable. On one occasion, Needham took a George Wallace-like vow to meet the SEC "on the courthouse steps" to block the abolition of fixed commissions-then he failed to carry out his challenge...
Captain Mel Embree played the part of Sergeant Preston, taming the Huskies with a first in the high jump (6 ft. 10 in.), a third in the long jump (22 ft.), and a surprise runner-up spot in the 120-yard hurdles (15.4 sec.). Sophomore Paul Organ's first place in that event was his first varsity win ever...