Word: stocked
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Dates: during 1980-1989
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Another resolution urged an escalation of confrontational activity by Black trade unions. It said workers should be prepared to occupy the Johannesburg Stock Exchange if necessary to prevent possible privatization of major state enterprises such as the postal and transport services...
...parts, the results have been just as dismal. Example: Datapoint, a San / Antonio-based minicomputer maker. Since Edelman took it over in 1985, the company has gone through three presidents and $135 million in losses. Yet he has reaped millions of dollars in personal fees by aggressively playing the stock market with Datapoint's cash. Another Edelman-controlled firm, Intelogic Trace, a computer-servicing business that was spun off from Datapoint in 1985, has seen its annual profits plummet from $20 million in that year to $179,000 in fiscal...
Edelman got a taste of his own tactics last September, when Manhattan lawyer Martin Ackerman launched a proxy war for Datapoint. Edelman responded by entrenching himself more deeply. In a two-day blitz of stock buying, Edelman boosted his stake from 10% to 40%, largely by purchasing stock with cash from Intelogic Trace. Edelman won, but pride had its price: Datapoint shares have fallen an additional 25% in value...
Because Edelman feels that U.S. attitudes toward raiders have become too hostile, he now prefers to stalk European game. Yet his magic touch is fading. In June, Edelman made a failed bid for Storehouse PLC, a British retailing giant. Since then Storehouse's profits and stock price have plunged, wiping out some 35% of the value of Edelman's stake...
Harvard--and other large privateinvestors--traditionally monitor the ethicalpractices of companies in which they hold stock byvoting on proxy resolutions. But the Universitydoes not initiate these proposals, preferringinstead to have its Corporation Committee onShareholder Responsibility (CCSR) respond to eachissue as it arises...