Word: sec
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Dates: during 1970-1979
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...precisely T-minus-2 min. 47 sec., the computer should have ordered pressurization of the liquid oxygen tanks in the Saturn 5's third-stage booster. But because two tiny electrical contacts in the computer's miniaturized circuitry did not touch, the signal was not given. That failure was noticed by an alert launch controller, who immediately threw a manual switch that started the necessary procedure. The computer, programmed only to check its own automatic signals, assumed that pressurization had not begun and stopped the countdown at T30 sec...
...administrative assistant to Vesco. Young Nixon said that he took the job because it offered him the best opportunity for business experience. Vesco gave $50,000 to the re-election campaign of Donald's uncle in September and October-by coincidence or not, the very time when the SEC investigation of Vesco was reaching a climax...
...SEC is seeking only civil remedies: an injunction to stop further illegal acts, and appointment of a receiver for the four IOS-managed funds. The receiver would try to track down and get back the money allegedly siphoned off by Vesco. Trial of the case against Vesco and the others has been set for February. If the SEC can prove its charges, it could later hand over to the Justice Department a readymade criminal case...
...SEC is trying to break new legal ground. In the past, "offshore" mutual funds-the IOS-managed type that raise money abroad but invest it in the U.S.-have operated in a regulatory vacuum. No government believed that it had full jurisdiction over them. The SEC contends that a U.S. court can assert authority over foreign-headquartered funds for a variety of reasons, among them a principle in international law that a country can halt activity occurring outside its borders if it "causes an effect" within those borders. If the SEC can make that claim stick, the offshore funds...
...glass thermometers now are sold each year in the U.S., and prices usually range from $1.50 to $2; Bio-Medical spokesmen say that the plastic thermometers will cost less than a dime each. Since they can be used only once, the company indicated in a prospectus filed with the SEC that distributors expect to sell around 1,000,000 thermometers daily...