Word: stockings
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Dates: during 1980-1989
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Takeshita, condemned in public opinion polls for his involvement in and handling of a huge stock and bribery scandal, announced earlier yesterday he was resigning "to restore the people's trust in government...
What's wrong in all this? In Japan distributing stock before a firm goes public is not illegal; in fact, many newly formed companies routinely ask banks and other firms to purchase a portion of their unlisted stock before the public sale to prevent market volatility once it is trading. But prosecutors in the Recruit case intend to prove that the offers in many cases constituted bribes in exchange for anticipated political and business favors. If the prosecutors find evidence of a political quid pro quo, recipients could be charged with accepting bribes...
While Takeshita maintains that he did not profit from stock deals, he did finally acknowledge receiving from Recruit sizable gifts in other forms. The Prime Minister conceded that in 1986 and 1987 the company donated $259,000 to his political organizations. He also admitted that Recruit bought more than $570,000 worth of tickets to two fund-raisers held for him in Tokyo and Iwate prefecture in May 1987. Such contributions are not illegal, but these may have exceeded legal limits imposed after the Tanaka scandal...
...after a sensational shoot-out in Ciudad Madero, police arrested Joaquin Hernandez Galicia, known as "La Quina," the powerful and widely feared leader of Mexico's oil workers' union. A month later Eduardo Legorreta Chauvert, a top businessman with ties to the Salinas government, was jailed on charges of stock fraud. What La Quina, Legorreta and Felix Gallardo have in common is that they are renowned for using patronage and corruption to put themselves beyond the reach of the law. By tackling such formidable figures head on, Salinas has given notice that he is willing to uproot the status...
...family member in 40 years has held a major job in the company, which merged with Nabisco in 1985. The last ties were cut in January, when heirs sold their stock to Kohlberg Kravis Roberts, the investment firm that bought RJR Nabisco for $25 billion. In his own small way, Patrick Reynolds has remained an annoyance to relatives and cigarette makers alike. If his book is successful, he says, he will donate a substantial portion of the profits to a lobbying group he is forming, the Foundation for a Smoke-Free America...