Word: stockings
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Dates: during 1980-1989
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Paul Lobosco, 29, a business student at New York City's Fordham University, wagered $1 million on stocks last week. But at worst he stands to lose only $49.95. That is the fee that 13,000 students paid to enter AT&T's first Collegiate Investment Challenge, a four-month contest designed to give an almost-real adventure in handling a stock portfolio...
Each entrant is equipped with a simulated brokerage account containing $500,000. The investors place orders by calling a toll-free number that puts them in touch with student "brokers" in Wellesley, Mass., who record the transactions based on the latest stock quotes. The investor who earns the most by Feb. 28 wins $25,000 in real money and a trip to the Bahamas...
Even in the frenzied world of Wall Street dealmakers, speculator Salim ("Sandy") Lewis stood out as a talkaholic with a penchant for dispensing advice and hatching colorful schemes. Last week a federal grand jury in Manhattan charged Lewis with manipulating stock in an apparent attempt to help out American Express and its chairman, James Robinson, a longtime Lewis friend...
...indictment accuses Lewis of conspiring with Los Angeles broker Boyd Jefferies in 1986 to drive up the stock price of Fireman's Fund insurance company from 37 7/8 to 38 just before American Express sold 9 million shares. While Jefferies confessed last year to violating securities laws, Lewis denies any wrongdoing. Neither Robinson nor American Express is expected to be charged. If convicted, Lewis could face up to five years in prison on each of 22 counts...
Despite earning $1.2 million last year in salary and stock options, Stempel remains at heart a grease monkey who reads car-buff magazines, counts race-car driver A.J. Foyt among his friends and won a collection of drag-racing trophies in his youth. His one concession to corporate security: letting a chauffeur handle the 40-minute drive to work from his home in a posh suburb north of Detroit...