Word: shad
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Dates: during 1980-1989
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Rooting out financial-disclosure fraud has become the top priority of SEC Chairman John Shad this year. The federal agency is coming down hard on companies that sugar-coat their earnings reports to give stockholders an artificially sweetened idea of corporate performance. Says Shad: "Some companies try to hide the bad news." So far this year the SEC has brought lawsuits against 25 firms for cooking the books, compared with 23 in all of 1983. This month the SEC is also expected to impose stricter guidelines for financial disclosure. Under the new rules, companies would be required to publish separate...
...steadiest and most faithful contributors to the New Right causes are religious fundamentalists. In 1980 many observers thought that the Moral Majority and other born-again groups with political ambitions Shad amassed enough power to enact their moral agenda. But their legislating crusade was thwarted by filibusters by Weicker and Oregon Senator Bob Packwood, the Administration's own emphasis on fiscal issues, and bickering among the various antiabortion advocates. While not a dominant force within the party, the fundamentalists are a strong pressure on its far-right flank...
...southern end at the Virginia capes, only 30 miles wide at its broadest point, the Chesapeake has long been a source of almost overwhelming natural abundance. Geese, black ducks, mallard, teal and widgeon have darkened the skies over the bay and fattened themselves in its marshes. Striped bass, shad and herring spawn in its shallow bays. Oysters, clams and the succulent Atlantic blue crab provide the bay's hardy watermen with a livelihood and gourmets with seafood delights...
...concern is timely. Fish catches have been dropping dramatically. The haul of shad, which topped the 17 million-lb. mark in the late 19th century, dropped below 2.5 million Ibs. during the late '70s, and in 1980 Maryland banned all shad fishing. Striped bass are also disappearing. In 1973 fishermen sold 5 million Ibs. of stripers, or rockfish, as they are called in Maryland. Last year's harvest was under...
Wall Street has never been famous for its moderation, and now there are growing doubts about the soundness of the deals. John S.R. Shad, chairman of the Securities and Exchange Commission, has issued a surprisingly sharp warning. Said he: "The more leveraged takeovers and buyouts today, the more bankruptcies tomorrow." Reason: the companies are vulnerable to high interest rates and a down turn in business because of the large loans they have taken on to finance their own purchase. Shad's views echoed those of Felix Rohatyn, a senior partner in the in vestment banking firm of Lazard Freres...