Word: trader
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...apparently just plain bad luck that as the tanker American Trader was unloading off Southern California's Huntington Beach last week, a sudden swell caused an anchor to tear a 3-ft. gash in the ship's forward compartment. Working by night, the crew plugged the hole within four hours, but an estimated 300,000 gal. of crude poured into the Pacific. At week's end the oil slick covered a 30-sq.-mi. area and was starting to foul beaches and wildlife refuges...
Dirtiest Dealer. He was Wall Street's advance man of the greed decade. Slick securities speculator Ivan Boesky made millions with investors' money. The inside trader paid a record $100 million to settle civil charges for his high jinks and later was sentenced to three years in a federal prison. When he was recently released on a furlough, he emerged sporting a ragged Howard Hughes- style beard...
...speaking loftily of social issues and encouraging his staff to bilk the clients. Below him are ranks of predators, among them a man so dedicated to consumption that he is labeled "the Human Piranha"; a Briton so chilly to his colleagues that he is called "Sir Sangfroid"; an irritable trader who throws a phone at his clerk every time he passes; and a bond trader who thrives on global catastrophe. Minutes after the Chernobyl disaster, this fellow advises, "Buy potatoes." Lewis suddenly understands: "Of course. A cloud of fallout would threaten European food and water supplies . . . placing a premium...
...partly financed through junk bonds. The takeover group said it would submit a revised bid "in the near term," but the announcement stunned investors who had come to view the United deal as the latest sure thing in the 1980s buyout binge. Said John Downey, a trader at the Chicago Board Options Exchange: "The airline stocks have looked like attractive takeover targets. But with the United deal in trouble, everyone started to wonder what other deals might not go through...
...buying the stock of takeover targets and selling it at a higher price when the deals go through. The high anxiety about the junk-bond market sent the stocks of takeover targets plunging across the board. "The arbs got their heads handed to them," said Anson Beard, the chief trader for Morgan Stanley. "Very few anticipated that the UAL buyout could fail." Small investors suffered less because they have been less active in the market since the 1987 crash...