Word: stockings
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Dates: during 1980-1989
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...financial community speculated that the dramatic arrests might have been inspired by a previous outcry against kid-gloves handling of Insider Trader Boesky. The highflying arbitrager, who had to pay a settlement of $100 million, was allowed to sell off hundreds of millions of dollars' worth of stock from his firm's trading accounts before his misdeeds were made known. To many Wall Streeters, it almost seemed as if Boesky had profited from inside knowledge of his own downfall, while other, more honest arbitragers lost an estimated $2 billion in the subsequent market turmoil. The latest arrests, says Daniel Bergstein...
...advisory services." A similar $3 million fee for "investment advisory services" went from Boesky to the Los Angeles brokerage firm Jefferies & Co., headed by Boyd Jefferies, 56. That company specialized in quietly assembling large blocks of shares for corporate raiders outside the purview of the New York Stock Exchange. In that role, Jefferies & Co. almost always had advance knowledge of any important takeover deal. Lawyers familiar with the SEC say the regulatory agency is looking very closely at how such relationships could lead to illegal insider trading...
...cooperate. Says a Wall Street lawyer: "Attorneys are advising their clients to take the Fifth Amendment unless they can strike some kind of deal with the Government. But the Government appears to be less interested in striking a deal than in sending Wall Street a message." One knowledgeable stock-market analyst thinks he knows what the message says: "They're going to widen the net until they run out of fish." Last week's sudden haul is an intriguing sign that there is plenty of net left...
When news of the ski switch leaked out, Rossignol's stock immediately slumped from 1,521 francs (about $249) to 1,350 francs ($221) on the Paris Bourse. The team criticism and the stock plunge, which wiped out 11% of Rossignol's market value, stung company officials. Stormed President Laurent Boix-Vives: "We don't have to prove ourselves. Half the 66 medals awarded at the Sarajevo Winter Olympics and the last two world championships, including 13 golds, were won on our skis...
Rossignol's stock recovered somewhat last week, but prospects for the French ski team are still discouraging. "The only way for them now is up," says a Rossignol spokesman hopefully. In the world of downhill skiing, however, that is not the easiest direction to attain...