Word: sec
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Dates: during 1970-1979
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...drop from a 1969 high of 141½-a share to last week's 28⅜. Last year the Securities and Exchange Commission accused company officials of manipulating the stock and making misleading statements about proposed mergers. For a while, Parvin/ Dohrmann stock was suspended from trading. The SEC claimed that, at the behest of Company Chairman Delbert Coleman, Parvin/Dohrmann had paid Washington influence-peddler Nathan Voloshen $50,000 in a vain attempt to raise the ban. In February, Coleman resigned and trading was resumed. Parvin/ Dohrmann reported a profit of $10.2 million for last year, compared with...
During his acquisition drive, Wall Street houses were given as finder's fees a good deal of N.S.M. letter stock (an issue not registered with the SEC and thus not readily marketable). Kidder, Peabody put out a 17-page report forecasting "significant growth" for N.S.M. and got 4,000 shares from the company just nine days later for helping to arrange a merger. By last December, the writing was on the wall if not yet in the annual report. But Wall Street was still impressed; Bear, Stearns & Co. quarreled with an article in Barron's, which noted that...
...emergency letter to the bill making its legislation effective immediately, instead of waiting the usual 90 days before becoming law. Governor Sargent thus managed to create two impressions in his act of signing the Shea Bill. His expressed doubts and reservations will mollify conservative elements in the state who sec the bill as a dovish challenge to the Nixon Administration. And his act of signing the bill and speeding its effectiveness should make his reelection campaign more attractive to liberal Republicans and to Democrats. Without definite action in support of the bill. Sargent would have lost anti-war voters...
...brief points out that the recent Securities and Exchange Commission (SEC) decision to place the two Campaign GM resolutions on the proxy statement climinates the necessity of engaging in an all-out proxy fight with the GM management...
...voted on by shareholders. One would enlarge the G.M. board of directors from 24 to 27, bringing in three consumer representatives. The other would set up a committee for corporate responsibility, funded by G.M., to press consumer interests. No doubt the proposals will be defeated. Even so, the SEC ruling set a precedent, opening a way for shareholders of other corporations to have a say on consumer issues...