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{{Short description|American businessman and socialite (born 1929)}}
⚫ '''Edward Reynolds Downe Jr.''' (born 1929) is an American wealthy businessman and socialite.
{{BLP sources|date=May 2018}}
⚫ '''Edward Reynolds Downe Jr.''' (born 1929) is an American businessman and socialite.


==Biography== == Biography ==
⚫ Downe graduated from the ]'s ] in 1952. He worked in a variety of capacities at two Virginia newspapers before joining ]. In 1954, he left True to become an editor at the rival magazine ]; he later moved into advertising at Argosy. In 1966, Downe purchased ], a newspaper insert similar to ]. He founded ] in 1967.<ref name="Kleinfield">{{Cite news| issn = 0362-4331| last = Kleinfield| first = N. R.| title = Living Poolside, and Wanting More; Insider-Trading Charges and the Southampton Summer Set| work = The New York Times| access-date = 2017-12-05| date = 1992-06-16| url = https://www.nytimes.com/1992/06/16/nyregion/living-poolside-wanting-more-insider-trading-charges-southampton-summer-set.html}}</ref> Through this company he went on to acquire magazines including ], and ].<ref name="ford">{{Cite news| issn = 0362-4331| title = Charlotte Ford Wed to Edward Downe Jr.| work = The New York Times| access-date = 2017-12-05| date = 1986-09-01| url = https://www.nytimes.com/1986/09/01/style/charlotte-ford-wed-to-edward-downe-jr.html}}</ref> Downe eventually sold Downe Communications to the ], a Jacksonville, Florida based oil and insurance conglomerate for approximately $9 million.<ref name="Kleinfield" />


⚫ Downe divorced his first wife, Naomi Susan Campbell, in 1977.<ref name="Kleinfield" /> Downe married heiress Charlotte Ford (mother of ]) on his 57th birthday, August 31, 1986.<ref name="ford" />
⚫ Downe graduated from the ]'s ] in 1952. He worked in a variety of capacities at two Virginia newspapers before joining ]. In 1954, he left True to become an editor at the rival magazine ]; he later moved into advertising at Argosy. In 1966, Downe purchased ], a newspaper insert similar to ]. He founded ] in 1967.<ref name="Kleinfield">{{Cite news| issn = 0362-4331| last = Kleinfield| first = N. R.| title = Living Poolside, and Wanting More; Insider-Trading Charges and the Southampton Summer Set| work = The New York Times| accessdate = 2017-12-05| date = 1992-06-16| url = https://www.nytimes.com/1992/06/16/nyregion/living-poolside-wanting-more-insider-trading-charges-southampton-summer-set.html}}</ref> Through this company he went on to acquire magazines including True, Argosy, ], and ].<ref name="ford">{{Cite news| issn = 0362-4331| title = Charlotte Ford Wed to Edward Downe Jr.| work = The New York Times| accessdate = 2017-12-05| date = 1986-09-01| url = https://www.nytimes.com/1986/09/01/style/charlotte-ford-wed-to-edward-downe-jr.html}}</ref> Downe eventually sold Downe Communications to the ], a Jacksonville, Florida based oil and insurance conglomerate for approximately $9 million.<ref name="Kleinfield"/>


⚫ == Insider trading ==
⚫ Downe divorced his first wife, Naomi Susan Campbell, in 1977.<ref name="Kleinfield"/> Downe married heiress Charlotte Ford (mother of ]) on his 57th birthday, August 31, 1986. <ref name="ford"/>
In 1992, the ] charged that in the mid- to late-1980s Downe and associated exchanged inside information in order to make illegal stock trades.<ref>{{Cite news| issn = 0362-4331| last = Gilpin| first = Kenneth N.| title = Oppenheimer Broker Offers Guilty Plea to Perjury Count| work = The New York Times| access-date = 2017-12-05| date = 1992-09-18| url = https://www.nytimes.com/1992/09/18/business/oppenheimer-broker-offers-guilty-plea-to-perjury-count.html}}</ref>


⚫ == Irish cottage controversy ==
⚫ ==Insider trading conviction==
⚫ In February 2009 the ] ran a story concerning US senator ]'s acquisition of his vacation home in ].<ref>http://www.courant.com/news/opinion/op_ed/hc-rennie0222.artfeb22,0,4471645.column {{Webarchive|url=https://web.archive.org/web/20090225133405/http://www.courant.com/news/opinion/op_ed/hc-rennie0222.artfeb22,0,4471645.column |date=2009-02-25 }} {{Bare URL inline|date=September 2022}}</ref> The article pointed out Dodd's close links to Downe, his disgraced former partner in buying the home.<ref>{{cite magazine| url=http://www.time.com/time/magazine/article/0,9171,975748,00.html | archive-url=https://web.archive.org/web/20081003053659/http://www.time.com/time/magazine/article/0,9171,975748,00.html | url-status=dead | archive-date=October 3, 2008 | magazine=Time | title=Business Ethics of the Rich and Famous? | date=June 15, 1992}}</ref> After paying an $11 million fine for his role in the scam, Downe later obtained a ] in the waning days of the ] administration. The controversial pardon was granted after Dodd lobbied Clinton on Downe's behalf. Dodd later acquired the interests of his partners after the pardon was granted. Dodd was also criticized for claiming the Roundstone home was worth less than $250,000 in Senate ethics filings; some observers estimated the likely value in excess of $1 million USD.<ref>{{cite news |url=http://blogs.telegraph.co.uk/news/tobyharnden/8697297/How_politics_works_Senator_Christopher_Dodd_and_his_cosy_Irish_cottage/ |archive-url=https://web.archive.org/web/20100112092606/http://blogs.telegraph.co.uk/news/tobyharnden/8697297/How_politics_works_Senator_Christopher_Dodd_and_his_cosy_Irish_cottage/ |url-status=dead |archive-date=2010-01-12 |title=How politics works: Senator Christopher Dodd and his cosy Irish cottage |first=Toby |last=Harnden |date=2009-02-24 |work=] |access-date=2012-05-07 |location=London}}</ref>


==See also==
⚫ ==Irish cottage controversy==
* ]


⚫ == References ==
In February 2009 the ] ran a story concerning US senator ]'s acquisition of his vacation home in ].<ref>http://www.courant.com/news/opinion/op_ed/hc-rennie0222.artfeb22,0,4471645.column</ref> The article pointed out Dodd's close links to Downe, his disgraced former partner in buying the home.
{{Reflist}}


{{Authority control}}
⚫ <ref>{{cite news| url=http://www.time.com/time/magazine/article/0,9171,975748,00.html | work=Time | title=Business Ethics of the Rich and Famous? | date=June 15, 1992}}</ref> After paying an $11 million fine for his role in the scam, Downe later obtained a ] in the waning days of the ] administration. The controversial pardon was granted after Dodd lobbied Clinton on Downe's behalf. Dodd later acquired the interests of his partners after the pardon was granted. Dodd was also criticized for claiming the Roundstone home was worth less than $250,000 in Senate ethics filings; some observers estimated the likely value in excess of $1 million USD.<ref>{{cite news |url=http://blogs.telegraph.co.uk/news/tobyharnden/8697297/How_politics_works_Senator_Christopher_Dodd_and_his_cosy_Irish_cottage/ |title=How politics works: Senator Christopher Dodd and his cosy Irish cottage |first=Toby |last=Harnden |date=2009-02-24 |work=] |publisher= |accessdate=2012-05-07 |location=London}}</ref>

⚫ ==References==
<references/>


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Latest revision as of 21:27, 2 December 2024

American businessman and socialite (born 1929)
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Edward Reynolds Downe Jr. (born 1929) is an American businessman and socialite.

Biography

Downe graduated from the University of Missouri's Missouri School of Journalism in 1952. He worked in a variety of capacities at two Virginia newspapers before joining True magazine. In 1954, he left True to become an editor at the rival magazine Argosy; he later moved into advertising at Argosy. In 1966, Downe purchased Family Weekly, a newspaper insert similar to Parade Magazine. He founded Downe Communications in 1967. Through this company he went on to acquire magazines including The Ladies' Home Journal, and The American Home. Downe eventually sold Downe Communications to the Charter Company, a Jacksonville, Florida based oil and insurance conglomerate for approximately $9 million.

Downe divorced his first wife, Naomi Susan Campbell, in 1977. Downe married heiress Charlotte Ford (mother of Elena Ford) on his 57th birthday, August 31, 1986.

Insider trading

In 1992, the Securities and Exchange Commission charged that in the mid- to late-1980s Downe and associated exchanged inside information in order to make illegal stock trades.

Irish cottage controversy

In February 2009 the Hartford Courant ran a story concerning US senator Christopher Dodd's acquisition of his vacation home in Roundstone, Ireland. The article pointed out Dodd's close links to Downe, his disgraced former partner in buying the home. After paying an $11 million fine for his role in the scam, Downe later obtained a pardon in the waning days of the Bill Clinton administration. The controversial pardon was granted after Dodd lobbied Clinton on Downe's behalf. Dodd later acquired the interests of his partners after the pardon was granted. Dodd was also criticized for claiming the Roundstone home was worth less than $250,000 in Senate ethics filings; some observers estimated the likely value in excess of $1 million USD.

See also

References

  1. ^ Kleinfield, N. R. (1992-06-16). "Living Poolside, and Wanting More; Insider-Trading Charges and the Southampton Summer Set". The New York Times. ISSN 0362-4331. Retrieved 2017-12-05.
  2. ^ "Charlotte Ford Wed to Edward Downe Jr". The New York Times. 1986-09-01. ISSN 0362-4331. Retrieved 2017-12-05.
  3. Gilpin, Kenneth N. (1992-09-18). "Oppenheimer Broker Offers Guilty Plea to Perjury Count". The New York Times. ISSN 0362-4331. Retrieved 2017-12-05.
  4. http://www.courant.com/news/opinion/op_ed/hc-rennie0222.artfeb22,0,4471645.column Archived 2009-02-25 at the Wayback Machine
  5. "Business Ethics of the Rich and Famous?". Time. June 15, 1992. Archived from the original on October 3, 2008.
  6. Harnden, Toby (2009-02-24). "How politics works: Senator Christopher Dodd and his cosy Irish cottage". The Daily Telegraph. London. Archived from the original on 2010-01-12. Retrieved 2012-05-07.
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