Word: white-collar
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...from its cage. Even for married women, immigration to the U.S. is a transforming process. The experience of earning money is central to their delighted discovery of their own worth. Some 50% of immigrant women work, about the same as U.S. women. Even for those who have traded their white-collar jobs at home for blue-collar jobs here, the drop in status is offset by the satisfaction of a significant rise in income and the hope of moving on. Anna Cruz-Vasquez is 56 and divorced. She came alone from the Dominican Republic in 1977 and with a garment...
...penalty, one of the toughest ever for embezzlement, is part of a federal crackdown on white-collar crime. Said Judge Thomas: "The fact that you used multiple frauds to obtain millions from your own banks warrants a sentence comparable to one that would be imposed on a person who uses violence to obtain a far smaller amount of money from one of your banks...
...operate honestly and ethically get indicted in the broad sweep." Both businessmen and consumers are asking why the new outbreak of lawlessness is occurring, and the Reagan Administration is stepping up efforts to bring it under control. Says Stanton Wheeler, director of Yale University's studies on white-collar crime: "People are increasingly realizing that the whole economic system operates on the basis of trust. When that trust is repeatedly violated, the system itself begins to be in doubt...
...Thayer case was fairly unusual in the annals of corporate crime because it resulted in a stiff penalty. Of the 9,900 white-collar offenders sentenced last year, 60% received no prison term. Those sent to jail typically serve one year or less. In contrast, an estimated 70% of defendants convicted of all kinds of felonies go to prison or jail. Prosecutors and critics of the courts maintain that business crime is on the rise because corporate crooks have received such lenient treatment...
Although the end of the dramatic struggle for Phillips (1984 sales: $15.7 billion) came as a relief to many local residents, others remained nervous. Phillips' 7,800 employees in Bartlesville, mostly white-collar professionals who make up 40% of the town's work force, were assured that their company would remain under local control; yet some jobs will probably be lost. Shareholders saw the price of their Phillips stock rise from less than $40 when the battle began to the mid-50s in December and close last week at 49 3/ 8. The clearest winners were the raiders. Centimillionaires already...