First racketeering indictment against Wall Street traders
A federal grand jury charged five Princeton-Newport Partners insiders and former Drexel Burnham Lambert trader Bruce Newberg with racketeering and conspiracy in a scheme to generate over 13 million in phony tax losses and stock manipulation from 1984 onward. The case marks a landmark RICO action in the insider trading saga linked to Drexel. The defendants face up to 20 years per racketeering count and up to 250,000 per count. The arraignment is set for next Thursday.
MENTIONED IN THIS ARTICLE
New York
Drexel Burnham Lambert
Wall Street
Ivan Boesky
Princeton-Newport Partners
Princeton
N.J
Newport Beach
Calif
Bruce L. Newberg
Drexel Burnham Lambert Inc
Princeton-Newport
Drexel
Princeton-Newport Arbitrage Partners
Steven B. Smotrich
Newberg
Retailers See July Sales Lag Amid Heat and Debt Concerns
Consumer spending stayed weak in July after a small June rebound as high debt and economic unease weighed on shoppers. Major retailers including Sears Kmari Wal-Mart and J C Penney reported mixed June and July results with some gains in same store sales while overall growth remained tepid.
MENTIONED IN THIS ARTICLE
Jeffrey Feiner
Merrill Lynch & Co
Feiner
Sears, Roebuck & Co
Sears
Kmari Corp
Wal-Mart Stores Inc
J.C. Penney Co
Hertz Fined 6.85 Million for Inflated Repair Charges
Hertz Corp. was fined a record 6.85 million dollars for overbilling repairs on rental cars and defrauding consumers and insurers. The company will also pay restitution totaling over 20 million, with 313.7 million to be deposited into a fund for victims and insurers.
MENTIONED IN THIS ARTICLE
New York
Hertz Corp
Hertz
Andrew J. Maloney
U.S
Brooklyn
Mickerson
Kidron Livestock Market Report Features Strong Consignments
EMDROGN consignments persist with robust feeder pigs and dairy cattle demand. Hog, calf and cow prices show steadiness or gains amid high head counts and diverse feed and hay prices across 2,280 head and 87 loads of hay and straw.
MENTIONED IN THIS ARTICLE
Jay
Also Mentioned on This Page
NYSE
Rynex
Pepsico
At&t
Ali
Pasay
Stanta Areca
Polace
Sarich
USA
Jared
Gannett
Favre
Gary
Gidot
Pierre K. Smith & Co_ Siilete
Eau! We
Grace SI
Aled Corporation
Rusty Greyh
Alitel AmerShip
Heb
CPC Inter. Tac
Son
INCO
Ue First Bancorp
Hills Dept
LCB Industries
Invacare Thi
LCB Bancorp Kerride
Benen
Norther Savings Bute
Qhio Edison
PC Corp
Ase Ie
Parker Hannifin My Jegth
Ara Smudter Ead
Adie AZ
Sunrise Medical Terck
Ars Svi
Texas
Woolworth
Ee York International
Amana
Frigidaire
Kelvinator KitchenAid
Sanyo
Stewarts
Cleveland
Elyria Biyro
Teroin
Clearview Clippers
Clippers
Chronicle-Telegram
Tom Meecha
East Ave
Elyria
Drexel Burnham
Rudolph Giuliani
James S. Regan
Jack Z. Rabinowitz
Charles M. Zarzecki
Paul Berkman
U.S. District Court
Lars
Jonny J. Frank
Maloney
Eugene Nickerson
John Martin
Kidron Livestock
Sues Noetahis
Wes
Ges
Arkla
Felton
oRd
Ust
Reet Road
Lorain Rd
North
Ridgeville
Root Rd
Worcester
Dees
C.D
Central Trust
C.d.’S
the Central Trust Company
Bank
Menber Fdic
The
Centeal Bancorporation
Cincinnati
Ohio
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