Word: block
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Dates: during 1980-1989
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...people and organizations own more than 600 shares each, while 938,457 have fewer than 20 each. Impresario Billy Rose once owned 80,000 shares of Telephone worth $11.2 million and liked to brag that he was the company's largest single shareholder. Today the largest block of stock is controlled by the College Retirement Equities Fund, a pension plan for teachers, which has 7.2 million shares worth $423 million...
...last week, following the company's agreement to split off its 22 local telephone operations. Trading in the stock was held up twice because the New York Stock Exchange was flooded with more orders than it could handle. Among them was one for an immense block of 1.3 million shares that was eventually acquired for $78.8 million. By the time the hectic week was over, 6.2 million shares changed hands. AT&T closed the week...
...that the new AT&T will no longer be a stodgy, lackluster stock. Shares in the core of the company, which will be competing in the glamorous but risky high-technology industry, are expected to be volatile in price, but highflying. Says Seth Glickenhaus, who already holds a large block of shares through his investment advisory firm of Glickenhaus & Co.: "AT&T will be an outstanding technological company." But other analysts fear that products from the new Ma Bell may not turn out to be profitable. As for the 22 local AT&T companies, or their survivors, they are less...
...Federal Trade Commission's decision to halt the cereal suit was another example of the Reagan Administration's antitrust philosophy. The Government still intends to block mergers that significantly reduce competition, but it will no longer try to dismantle existing firms simply because they are big and successful...
...York and Philadelphia, noted dailies are on the block...