Word: stockings
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Dates: during 1980-1989
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...ducked out of the downtown Manhattan courthouse and sped away in a black luxury limousine. Former Arbitrager Ivan Boesky, looking gaunt and subdued, pleaded guilty before a federal judge to one count of violating federal securities laws. Boesky, 50, who is the leading man in Wall Street's biggest stock-market scandal, remains free until his sentencing in August. The Detroit-born son of a delicatessen owner, who amassed an estimated fortune of $200 million through his dealings, and who still lives on a 200-acre New Castle, N.Y., estate, faces a maximum of five years in prison...
Neither the plea nor the politicking proved to be enough to shake investor confidence in the stock market's underlying strength, however. On the day of the Boesky hearing, a seat on the New York Stock Exchange sold for a record $1 million...
...automaker has shut plants, laid off thousands of workers and otherwise struggled to regain an < eroding market share. Now, with labor contract talks coming soon, GM is taking a new step on the road to austerity: lavish annual cash bonuses for executives will be replaced by stock options tied to GM's financial performance...
...these days sit in their offices, design their places down to the last details and then hand the plans over to be built by someone else. Now I ask you, which approach do you think would make for better results? Do you sit in your office and look up stock answers in your books? Or do you move to the guy's property, immerse yourself in that piece of land, take your time, and do a one-off piece of art? In the early days, that's how buildings were made. Where did we go wrong...
...finally too much for the heirs of both Founder Thomas Mellon and his son Andrew, who was Treasury Secretary to Presidents Harding, Coolidge and Hoover. Only one direct descendant, Seward Prosser Mellon, 44, still serves on the board, but family members together hold 15% of the bank's stock, providing effective control. They picked as Barnes' acting replacement Nathan Pearson, 75, a longtime financial adviser to Philanthropist Paul Mellon, who holds 9% of the bank's shares. Heading the search committee that begins meeting this week to find Barnes' successor is Andrew Mathieson, who advises the heirs of Andrew Mellon...