Word: stocked
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Dates: during 1960-1969
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Opposing his nomination to the U.S. Supreme Court, liberal members of the Senate Judiciary Committee embarrassed both Judge Clement Haynsworth Jr. and his sponsors when they charged the South Carolina jurist with conflict of interest. Their disclosures about his business connections and stock purchases raised serious questions about Haynsworth's judicial ethics, shook the confidence of his supporters and gave his opponents an unexpected advantage in their fight to prevent his confirmation. But as hearings on Haynsworth's appointment concluded last week, it became obvious that the liberal advantage had been only temporary...
...financial interests satisfied many who had been concerned. Haynsworth convinced waverers that his participation in one case-involving a company that did business with a firm in which he had an interest -was justified on the grounds that his relationship was remote. He blamed his purchase of stock in the Brunswick Corp. while its case was still technically under litigation on a simple lapse of memory. The case had been settled more than a month before he bought the stock, and he had forgotten that the decision had not yet been announced...
...built his $275 million fortune on airlines, hotels and Las Vegas gambling, last week added another potentially rich prize to his leisure and travel domain. He won control of Metro-Goldwyn-Mayer, the ailing moviemaker, with a stunningly successful tender offer for some $26 million of its common stock at $42 a share. In August, Kerkorian had picked up 22% of MOM's stock through another tender. Now his holdings will rise to at least 32% and perhaps to as much as 45% of the company's shares, depending on how much of an estimated $59 million worth...
...Coop shift virtually all decision-making power from the stockholders, who are self-appointed to the directors, who would more than ever represent the membership. The directors instead of the "trustee" stockholders would set the rebate rate, for example. While continuing to hold the 60.000 shares of Coop stock in trust, the stockholders will become no more than a nominating board for the directors...
...crisis. The obvious one is money. In 1956, My Fair Lady was put on for $400,000; last May Dear World lost its backers upwards of $750,000. The theater's angels, who customarily take their temperatures with a Dow-Jones thermometer, feel distinctly chilly after a sustained stock-market decline. The result is that while 33 new plays and 45 musicals have been announced for the season, only seven plays and four musicals are definitely scheduled to open between now and Jan. 1. Indeed, this may be the year of permanent transition to heavy off-Broadway production, which...