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BUSINESS
November 3, 1988 | PAUL RICHTER, Times Staff Writer
When Ivan F. Boesky's book, "Merger Mania," came out in 1985, it was thick with fancy arithmetic that purported to explain how Wall Street's most powerful arbitrager, or speculator in takeover stocks, had made his millions. People who read it thought Boesky was a pretty smart guy. They had second thoughts the following year, however, when Boesky pleaded guilty to a list of insider trading violations and gave up $100 million in fines and illegal profits.
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BUSINESS
August 6, 2001 | CAROL VINZANT, WASHINGTON POST
Retired pharmaceutical executive Edward Adams sees nothing unusual in the way he holds his stocks: on paper certificates in a bank's safety deposit box, backed up by records held in his house safe. "I don't know the security of their system, but I know the security of mine," Adams said from his suburban Philadelphia home. "Could [the brokers' system] be compromised in some way? Could a blip erase your holdings? I have no idea."
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BUSINESS
August 6, 2001 | CAROL VINZANT, WASHINGTON POST
Retired pharmaceutical executive Edward Adams sees nothing unusual in the way he holds his stocks: on paper certificates in a bank's safety deposit box, backed up by records held in his house safe. "I don't know the security of their system, but I know the security of mine," Adams said from his suburban Philadelphia home. "Could [the brokers' system] be compromised in some way? Could a blip erase your holdings? I have no idea."
BUSINESS
March 15, 2001 | PETER G. GOSSELIN and THOMAS S. MULLIGAN, TIMES STAFF WRITERS
Fear of American economic weakness is spreading to many of the world's other major economies, making it less likely that they--and the U.S.--can dodge a substantial slowdown or recession. Worries about global growth made a speedy, round-the-world trip in financial markets Wednesday, starting with warnings about a new round of Japanese bank trouble. The domino-like events reminded many of the frightening financial contagions of the late 1990s and put Washington policymakers on high alert.
BUSINESS
October 30, 1997 | From Bloomberg News
In a move that highlights how closely its fortunes are tied to the U.S., Brazil's stock exchanges on Wednesday shifted trading hours so they won't be whipsawed by wild market swings before U.S. stocks start trading. The Sao Paulo stock exchange, known as the Bovespa index, and the Rio de Janeiro exchange delayed opening by two hours to noon, or 9 a.m. Eastern Standard Time, and extended closing by one hour to 6 p.m., or 3 p.m. Eastern Standard Time.
NEWS
July 2, 1992 | SCOT J. PALTROW, TIMES STAFF WRITER
At the big Lehman Division stock brokerage office at 55 Water St. in Manhattan, a good sales script was everything, and assistant branch manager Robert Tarlowe's pitches were so good that they inspired even the office's hardened veterans. His brokers said Tarlowe would take command of the morning meeting of the office's 130 brokers like a field general mapping out a battle plan.
NEWS
February 11, 1998 | TOM PETRUNO and THOMAS S. MULLIGAN, TIMES STAFF WRITERS
U.S. blue-chip stocks surged to record levels on Tuesday despite a growing list of political and economic worries, leaving Wall Street once again debating how high is too high for the 7-year-old bull market. The Dow Jones industrial average rocketed 115.09 points, or 1.4%, to a record 8,295.61, finally topping the previous record close of 8,259.31 set Aug. 6--and further dimming the memory of October's mini-crash.
BUSINESS
July 4, 1992 | SCOT J. PALTROW, TIMES STAFF WRITER
Among the most common customer complaints against brokers, one stands out because it is a clear violation of criminal law: forgery. Charges that brokers forge their customers' signatures on account documents are common, a Times investigation of the retail brokerage industry shows. Industry experts and brokers themselves say the practice is widespread and even tacitly tolerated by some firms. Yet the allegations almost never lead to criminal investigations, and disciplinary action is rare.
BUSINESS
June 19, 1991 | From Associated Press
Despite the recession and slump on Wall Street in 1990, profits cascaded in for some investors, fund managers and traders, with the top 20 money makers earning $20 million to $95 million, Financial World magazine reported. Some of the biggest earners reaped their profits from surging oil and currency prices. But one transaction, Kohlberg Kravis Roberts & Co.'s $1.34-billion sale of Beatrice Cos. to ConAgra Inc., helped five businessmen place in the top 20, the magazine said in its July 9 issue.
BUSINESS
October 9, 1988 | SCOT J. PALTROW,, Times Staff Writer and
In the days after the Oct. 19 stock market crash, Merrill Lynch & Co. faced almost as big a crisis among its own traumatized brokers as it did in trying to restore clients' confidence in the market. "We were dealing with a situation where a large part of the sales force was demotivated or demoralized," says David H. Komansky, senior vice president in charge of the firm's nationwide retail network. Many brokers had never experienced anything but the unprecedented bull market of the 1980s.
BUSINESS
January 12, 2001 | Reuters
The nation's top securities regulator warned investors Thursday about the dilutive impact of stock options on their shares and urged them to make their voices heard as the Nasdaq Stock Market considers new rules for shareholder approval of options for executives.
BUSINESS
February 13, 2000 | EVELYN IRITANI, TIMES STAFF WRITER
In another backlash against globalization, activists are pressuring the U.S. government to restrict foreign access to the powerful U.S. stock and bond markets. Their target is the growing practice by foreign firms with questionable ties to rogue nations of raising money on Wall Street. Though the United States has banned trade and other financial dealings with some nations over the years, its capital markets have always been accessible to any foreign companies that meet investment standards.
NEWS
January 29, 2000 | MARY WILLIAMS WALSH, TIMES STAFF WRITER
The economy grew at a red-hot annual rate of 5.8% during the last three months of 1999, the government reported Friday. But inflation also showed signs of reawakening, triggering a wave of selling in the stock market in anticipation of vigorous interest-rate hikes by the Federal Reserve. Growth for all of last year was a robust 4%, making 1999 the third straight year in which economic output grew by at least that much.
BUSINESS
November 3, 1999 | From Bloomberg News
The bill rewriting Depression-era U.S. bank laws promises broad benefits to the banking, insurance and securities industries. A close examination of the fine print, however, shows some companies did particularly well, while others were disappointed. On Tuesday, U.S. House and Senate negotiators formally approved details of the bill, clearing the way for final House and Senate action as early as today.
BUSINESS
October 8, 1999 | Reuters
Regulators are taking aim at potential conflicts of interest in the highflying market for new stock issues with a rule proposed Thursday by the National Assn. of Securities Dealers. The NASD, the chief self-regulatory group for the securities industry, said its board approved new rules aimed at ensuring that brokerages don't distribute shares of newly public companies to individuals who are in a position to give the firms future business.
BUSINESS
September 8, 1999 | Thomas S. Mulligan
The year 2000 will begin with "business as usual" in U.S. securities markets, a phalanx of top-ranking regulators, stock market chiefs and other officials asserted at a news conference in Washington on Tuesday. The officials, including the heads of the Securities and Exchange Commission, the New York Stock Exchange and the National Assn.
BUSINESS
April 5, 1998 | TOM PETRUNO
The corporate symbol emblazoned across the newspaper ad--a pyramid with a stylized sun rising behind it--would be immediately recognizable to many American investors. But in Japan the typical small investor is only now being introduced to the Fidelity Investments logo--and to Fidelity's menu of mutual fund choices. "A New Era of Investing Begins With Fidelity," the ad proclaims.
BUSINESS
December 5, 1992 | KATHY M. KRISTOF, TIMES STAFF WRITER
Debbie and Ross Goldberg have long invested in the shares of small companies for one simple reason: They can buy some of those stocks cheap. With just a few thousand dollars, the Goldbergs can buy several hundred--sometimes even a few thousand--shares of a little company. If the company does well, the Woodland Hills couple make a killing. Ralph Feldfeber, on the other hand, is a new entrant into the small-company stock market.
BUSINESS
June 16, 1999 | TOM PETRUNO
Here's a good reason why Wall Street isn't more afraid of what the Federal Reserve might do soon with interest rates: Corporate earnings growth is expected to be stellar in both the second and third quarters. Earnings tracker First Call is estimating that the companies in the blue-chip Standard & Poor's 500-stock index will show 15% earnings growth in the current quarter and 20% in the third quarter, on average.
BUSINESS
February 11, 1999 | From Reuters
Top Wall Street players expressed broad support Wednesday for a bill to overhaul the Depression-era banking laws even as a new rift opened up among lawmakers. Leaders of the banking, securities and insurance industries coalesced around H.R. 10, legislation resurrected from last year's Congress that would allow one-stop shopping for a host of financial services. "The outstanding issues are few and resolvable," David Komansky, chairman and chief executive of Merrill Lynch & Co.
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