Word: stockely
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Dates: during 1970-1979
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...House Subcommittee on Financial Institutions will also begin hearings this week into banking problems involved in the Lance affair. Among them: insider lending practices, correspondent relationships between banks, the buying of bank stock on credit and the general effectiveness of the comptroller's office in regulating banks. Though Lance's conduct will not be at issue, the hearings will focus on the practices he engaged in as a banker. Yet another congressional investigation-by Senator William Proxmire's Banking Committee-is scheduled to get under way by the end of the month. Proxmire was the only Senator...
Lance may survive the criticism-if there are no more bombshells. That could prove a big if. Some critics charge that his confirmation testimony before the Senate Governmental Affairs Committee may have been misleading; in addition, it was learned last week that Lance pledged the same stock as collateral for two different loans-a violation of his loan contracts. Investigations by three congressional committees are scheduled to begin next month. A probe by the Senate Banking, Housing and Urban Affairs Committee, headed by Senator William Proxmire (the only Senator to oppose Lance's confirmation last January), will...
...looking like a tempting takeover target itself; even United's Harry Gray cast an eye its way. What Graves wanted was a willing partner in a compatible business. Investors are not so sure that the marriage with B&W will work. After the victory announcement McDermott's stock dropped by $3 per share...
There is still money to be made in the stock market-by accident, anyway...
...Silverman go so easily is a mystery, but Silverman's reasons for leaving are clear enough. Although he was certainly well paid?around $250,000 a year at CBS?he was not given what the trade appropriately calls "keeping money": stock options and other benefits that enable an executive to build personal capital. (His salary at ABC is reportedly about the same now, but will rise to $350,000 next year. In addition, he has stock options and all the perks previously denied ) Worse, he was denied entrance to "the club," an elite group that really runs CBS. Following...