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boiler room |
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Boiler Room A place where high-pressure salespeople use banks of telephones to call lists of potential investors (known as a "sucker lists") in order to peddle speculative, even fraudulent, securities. A boiler room is called as such because of the high-pressure selling. Notes: A broker using boiler-room tactics gives customers only positive information about the stock and discourages them from doing any outside research. Boiler-room salespeople typically use catchphrases like "it's a sure thing" or "opportunities like this happen once in a lifetime".
Boiler-room methods, if not illegal, clearly violate the National Association of Securities Dealers' (NASD) rules of fair practice. The North American Securities Administrators Association estimates that investors lose $10 billion a year - roughly $1 million an hour - to investment fraud promoted over the telephone. Boiler room Used to describe place or operation in which unscrupulous salespeople call and try to sell people speculative, even fraudulent securities.
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| Because rodents do not like the cold, they're likely to invade warm areas such as laundry or boiler rooms (figure 1). Morristown Housing Authority selected WASA to design and engineer the replacement of seven boiler rooms in several buildings within Manahan Village, Wetmore Towers, the Petrone Building and 29 Ann Street. During their time aboard the ship, they will work in the galley, tour the engine and boiler rooms and participate in team-building activities. |
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