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Wrong Way On Wall Street (Part IV) #108398

ABC Evening News for Thursday, Mar 05, 1987
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(Studio: Peter Jennings) Securities and Exchange Commission chairperson John Shad's call for incrd. budget to monitor Wall Street outlined; scenes shown.

(No location given: Sander Vanocur) Soc. and economy fallout from last yr.'s takeover maneuvers, both the successful ones and the failures, examined; Owens-Corning fiberglass plant in Newark, Ohio, cited as example [Laid-off worker Dick DUDGEON - notes his predicament.] Profit realized by Sanford Sigoloff from unsuccessful Owens-Corning takeover attempt by his Wickes Company, Incorporated and impact on Owens Company noted. [Owens-Corning executive William BOESCHENSTEIN - notes company's vulnerability.] [Union president Ronald EDWARDS - blames Sigoloff for layoffs.] Overall impact on Owens-Corning competitiveness explained. [Research and development vice president Mike GRIFFITH - notes consequences for cntry.] [Plant manager Will BOWMAN - considers soc. consequences of corporation raiding.] [PaineWebber analyst Ed SCHOLLMEYER - cites relationship between automation, layoffs and international competitiveness.] [DUDGEON - responds.]

(Studio: Peter Jennings) [Senator Howard METZENBAUM, Blackstone Group chairperson Peter PETERSON, Dillion Read and Company chairperson Nicholas BRADY, takeover specialist Asher EDELMAN - discuss soc., economy and political ramifications of takeover attempts.] United States attorney Rudolph Giuliani's prosecution of insider trading violators noted. Part V announced.

Reporter(s):
Jennings, Peter;
Vanocur, Sander
Duration:
00:06:50

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