Word: sting
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Many people in the computer industry were unhappy last week when shares of Microsoft fell almost 14% in one day. But no one felt the sting more than William Gates, 33, the boyish-looking co-founder and chairman of the software- manufacturing firm. His 38% stake in Microsoft left him nearly $175 million poorer -- on paper. (His shares are still worth $1.1 billion.) Investors dumped the stock after hearing that profits were about to dip because of unanticipated delays in shipping two new versions of Microsoft's word- processing program...
...world scene. But as he began a series of one-on-one meetings with some of the foreign leaders who went to Japan for the funeral of Emperor Hirohito, Bush suffered a slap from which not even the 6,800 miles between Washington and Tokyo could remove the sting. Disregarding fervent pleas by the President, the Senate Armed Services Committee voted 11 to 9 along strict party lines to reject his nomination of former Senator John Tower to be Secretary of Defense. The main reason: Democrats on the committee said they could not accept the Administration's claims that Tower...
...taxes" promise. If so, the President will undoubtedly be glad to take a passing hit for having been misinformed. Bush survived Iran- contra, when reporters and adversaries were rooting around in his record to prove his complicity. He is even more likely to survive an Ignorance Sting, since most responsible Congressmen and economists have been hoping that he will somehow wake up and do "the right thing...
...traders were right on one count: the man named Vogel was keeping tabs on everyone. Last week it was disclosed that several FBI undercover agents carrying hidden tape recorders had penetrated the pits as part of the largest criminal investigation ever to hit the Chicago commodities markets. The sting % operation, designed to catch unscrupulous commodities traders who were defrauding customers of millions of dollars, broke into the open when the Justice Department reportedly began issuing subpoenas to at least 40 people connected with the Chicago markets. By the time they finish gathering evidence in the next few weeks, federal prosecutors...
Word of the sting prompted widespread soul-searching on the normally ebullient trading floors of the Merc and the Chicago Board of Trade. "There's paranoia in the pits today," said a futures trader. "Nobody knows just how much the feds have got and against whom." Several panicky traders who reportedly had been subpoenaed sold their exchange seats, including one on the Merc that went for only $330,500, a sharp drop from the previous sale at $380,000 only a week earlier. Many traders worried about what the scandal might cost Chicago's booming markets in terms of lost...