Word: mcvey
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Dates: during 1987-1987
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...proceeded to make the catch of his life. In the Yukon Motel restaurant in Teslin (pop. 350), the ruddy, barrel-chested Mountie eyed a 300-lb. stranger sitting nearby. He thought he might have seen the man before -- on a wanted poster. The stranger, it turned out, was Charles McVey, a particularly notorious smuggler sought by U.S. Customs officials for illegally exporting millions of dollars' worth of computer equipment to Moscow. The sharp-eyed Corporal Fudge got his man, and is now a decorated hero. McVey sits in a Vancouver jail awaiting extradition proceedings next month...
...reigning technobandits, none was more brazen or accomplished than McVey, who had been shipping technology to the Soviet Union and arranging computer-training classes for Soviet engineers since the early 1970s. The equipment transferred reportedly included high-capacity computer disk drives, as well as imaging systems that could be used in the study of satellite photographs. McVey had obtained the products through four companies he controlled in California's Orange County...
...Customs officials finally managed to outwit McVey in early 1982, when he tried to smuggle a Memorex computer out of California on a private plane. When the plane stopped in Houston, Customs inspectors replaced the computer with a load of sand. The sand was duly shipped to the Institute of Space Research in Moscow. McVey's capture last summer foiled his latest scheme: a plan to steal the designs for a new supercomputer being developed by the Saxpy Computer Corp. in Silicon Valley. The computer can be used to track satellites and missiles...
...McVey case highlights the problem of protecting secrets in an open society. The free exchange of information is vital to continued progress in fast-changing fields like computers and lasers. But such openness provides the Soviets with valuable opportunities. For years, the large Soviet consulate in San Francisco has served as an intelligence center from which Moscow monitors Silicon Valley. Soviet agents routinely intercept scientists' telephone calls, sift through unclassified technical publications and, on occasion, plant moles in U.S. industries. For the most part, however, the transfer of technology takes place along quasi-normal lines: through firms in Europe, Japan...
...switching could hurt the profitability of the fund companies, since money-market and bond funds bring in lower sales commissions and management fees than stock funds do. Most fund managers hope that investors, after a period of cooling their nerves, will venture back into the stock funds. Says Edward McVey, senior vice president at Franklin Resources: "As soon as people got over the initial trauma of Black Monday, they were calling up to reverse their redemptions." Michael Lipper, president of Lipper Analytical Securities, is not quite so confident. "The panic is over," he says, "but the jury is still...