Word: stockely
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Dates: during 1970-1979
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...current market price of about $15 a share. He had already disclosed that he would use all of the 3.7 million shares he controlled to support amendments to the company charter that make tender offers all but impossible. One proposal would allow anyone holding more than 20% of Avis stock to veto a takeover. Even after the sale of the 2 million shares, Smith will hold 22% of the stock...
Fuqua Industries, an Atlanta-based conglomerate, offered to pay no less than $15.50 each for all of the Avis shares held by Smith, and agreed to make an equal or even better offer for the remainder of the stock held by the public. The Justice Department eagerly let it be known that it favored complete divestiture of the shares by the trustee as quickly as possible...
Night Jogging. Muggers tremble behind locked doors now, to avoid being trampled by housewives in striped training suits. Sports stores are unable to keep $36.95 imported running shoes in stock. (Adidas sells a white and orange model that glows in the dark, for night jogging.) Day hikers need permits to enter certain overused areas of New Hampshire's White Mountains. A slender, bemused fellow named George Butler, who produced the body-building film Pumping Iron, goes about saying, "The next generation of American men will be unrecognizable," and at the rate at which weight-lifting rigs are selling...
...Financial experts from Federal Street to Wall Street generally agree that the difference between abstaining and voting against a shareholder resolution at a stockholders' meeting is largely a cosmetic one. In the counting of shareholder votes, all that matters is the percentage of "favor" votes out of the total stock issued; abstentions might just as well be votes against the resolution...
Many students may not be pleased with the results of Harvard's proxy votes or with Harvard's continued ownership of stock in companies that do business in South Africa. The resolution of these issues, however, need not be accomplished through protest rallies and Mass. Hall takeovers, as Ratner implies. The ACSR was set up in 1972 for the very purpose of bringing student, faculty, and alumni views into the management of Harvard's portfolio. If students in recent years have failed to use the ACSR effectively, they have none but themselves to blame...