Word: stockings
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Dates: during 1980-1989
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...conclusion, the owner of a stock has not supplied a company with capital unless he has purchased the stock in the initial public offering of that stock. Because the company gains nothing from secondary market trades, it is incorrect to believe that the sale of stock would hurt the sponsoring company, even if the price were to go down. The price of stock is an indication of company condition, not a primary cause...
...South Africa or that divestment is a symbolic protest against apartheid. This is all well and good. On the other hand, is the goal of divestment to hurt the company financially and in so doing force it to cease business in South Africa? If so, the sale of stock has nothing to do with...
...goal of divestment is to "send a message" to the Board of Directors of a company and/or other stockholders, why use such an indirect means as the sale of stock, which has no impact on the company? Why not stand up at a stockholders meeting and directly tell the Board of Directors (within earshot of other stockholders) exactly what you think? Selling stock deprives one of this opportunity and has no effect on the company's conduct of business. Samuel O. Sheargren...
Last week Burroughs made a fresh merger proposal, offering $4.1 billion in cash and stock, and once again Sperry's board of directors refused to respond. Burroughs became impatient after two days and took its $70-a-share pitch directly to Sperry stockholders, thus escalating the offer to a hostile bid. Shareholders will have until June 5 to decide whether to sell, but Burroughs hopes Sperry's management will go along peacefully before then. Says Burroughs Chairman W. Michael Blumenthal: "The logic of the merger is so clear that I am hopeful they will realize...
...represents a career-end gamble for Blumenthal, 60, who earlier served as chairman of Bendix and as Treasury Secretary under President Carter. His determined advance convinced Wall Street that Sperry's days as an independent company are numbered. In just two days last week, speculators sent Sperry's stock price up $16.25, to $71.25. Some investors think Sperry will find a so-called white knight to deliver it from Blumenthal's clutches, but the company is running out of candidates. During the past year, Sperry is rumored to have held merger talks with ITT, General Dynamics and AT&T, among...