Word: thayers
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...example, in September 1982, shortly after he learned that Allied planned to try to take over Bendix Corp., Thayer allegedly contacted Ryno and Harris. On Sept. 22, Ryno bought 4,000 shares of Bendix at roughly $60 a share; five days later, after Allied's tender offer had been made public, she sold it at about $73 a share, netting a profit of $51,000. U.S. securities law only penalizes tipsters who "benefit" from passing inside information, and the SEC does not claim that Thayer profited financially from his inside information. The commission will charge, instead, that Thayer benefited...
...Despite Thayer's claims of innocence, the embarrassing charges made his Defense Department post untenable. His departure leaves a large hole high up in the Pentagon hierarchy. Thayer had publicly criticized the military's waste and cost overruns; privately, he liked to brag that he could cut the budget by 20% without sacrificing effectiveness. As de facto chairman of the Pentagon's defense resources board, Thayer had day-to-day control over all agency actions and military procurement. To some defense professionals, he seemed both well placed and well suited to carrying out budget cuts: a hard...
Once in a single day, Thayer, whose favorite hobby is flying military jets, piloted an F16, an F-15 and an F18, danced into the small hours at a local disco, and returned in the morning to fly the prototype of a B-1 bomber. He is an avid wild-game hunter ( he decorates his office with his kills) , a motorcycle enthusiast, an expert skier and an amateur rodeo rider...
...Thayer's greatest weakness may have been that he lacked the full confidence of Weinberger, who seems more interested in boosting the defense budget than in cutting waste. When Thayer challenged Navy Secretary John Lehman on the need for a 600-ship Navy, Weinberger undercut Thayer at a meeting of top officials. "That session decapitated Thayer as far as the service chiefs were concerned , ' ' recalls a Pentagon insider...
This fall, as Thayer struggled with the Pentagon budget, he was reported to be increasingly distracted by his growing legal problems. Budget decisions on matters ranging from new weapons systems to new uniforms began to pile up on his desk; by mid-December the stack was 18 in. high...