Word: sec
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Dates: during 1980-1989
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Meanwhile, O'Hara and Del Valle devised a plan to reduce the number of shareholders to fewer than 300, which would eliminate the SEC reporting requirements that apply to a public company. Management proposed to do this by declaring a reverse stock split of one share for every 1,000 shares. Anyone holding fewer than 1,000 shares would have to accept a cash payment of $41 a share, and that would whittle the total number of stockholders to below the magic 300 level...
...gift from Shad, who is stepping down to become Ambassador to the Netherlands, comes at a time of unprecedented interest in classroom ethics stimulated by the recent Wall Street insider trading scandal. The SEC Chairman's donation coincides with President Bok's efforts announced last year to create the university-wide ethics program now run by Kennedy School Professor Dennis Thompson...
...timing of Shad's gift follows the expulsion of first-year B-School student Randall D. Cecola last fall, when Cecola faced SEC charges of insider trading. Cecola played a small role in the same Wall Street scandal that incriminated Ira B. Sokolow and Martin A. Siegel, who obtained their Harvard MBAs in 1981 and 1971, respectively...
Fresh problems confront the coaches on the court too. A brand new 19-ft. three-point shot and a fairly new 45-sec. shooting clock have permanently changed the game and for the moment improved the drama. "One of the most important balances in basketball," says Pete Newell, who coached championship teams at San Francisco and California, "is the value of the ball against the penalty of the foul. That might be out of whack now. Promiscuous fouling could be coming." The wiliest coaches, like Jerry Tarkanian of Nevada, Las Vegas, have been passing up three-on-two fast breaks...
...shares -- by buying blocks of Fireman's stock right before the offering. The New York Times, quoting lawyers close to the investigation, reported that Jefferies bought the stock at the request of Salim Lewis, a financier who has had business dealings with American Express chairman James Robinson. The SEC issued subpoenas to American Express and the two investment firms that managed the offering, Shearson Lehman Bros., which is an American Express subsidiary, and Salomon Brothers. None were accused of any wrongdoing. Robinson told TIME that he had also been subpoenaed personally, but said, "I absolutely and unequivocally deny any wrongdoing...