Word: bonding
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...point of view, a corporate marriage was attractive. Phibro, founded in 1914, had just been spun off from its smaller and less profitable parent, Engelhard Minerals & Chemicals Corp. of New York. Though it has been making record profits, Salomon had recently lost about $40 million in the highly volatile bond market. Several senior officials at Salomon, which is one of the few remaining partnerships on Wall Street, were also anxious to leave the firm and cash in their share of the operation...
...freedom he wanted. Called a public authority, it was based on a simple idea. Because the government could not always afford the huge expenditures necessary to build major construction projects like bridges and highways. Moses set up quasi-public corporations--beginning with the Triborough Bridge Authority--which would sell bonds, build the projects with the funds, and pay the investors back with revenue from tolls. A mayor might select the members of the authority's board of directors, but once the bonds were sold the government could not interfere with construction because of the sanctity of the contract between...
...life." The city council met Saturday to review the disaster. No one was ready to place blame-indeed, it was not yet known why the sky bridge gave way. Said a Hyatt vice president, James Howard, in a careful letter to the mayor and Missouri Governor Christopher ("Kit") Bond: "We do not know the cause of the tragedy. However, we do know that the structural integrity and safety of the building had been assured by the architects, the contractor, and in subsequent building Somewhere, the assurance flawed...
Some bankers even argue that technical factors alone will keep rates from dropping by very much in the months ahead. With long-term interest for such investments as top-rated corporate bonds now as high as at least 15%, corporate treasurers have been postponing bond sales and covering their money needs on a week-to-week and month-to-month basis in the short-term market. In June alone, business demand for such credit jumped at an annual rate of 32%, to $319 billion. Moneymen speak of a "shadow bond calendar" of $10 billion to $15 billion in potential corporate...
...when Grandmother dispensed advice for getting rid of wrinkles. But in an era of increasing specialization, such simple, homespun arts have become the domain of a select few-to say nothing of newer skills needed to cope with daily life. What, for example, is the difference between a Treasury bond and a Treasury certificate, or a condominium and a cooperative apartment? Whether the subject is glamour or gold, condos or coops, Network for Learning provides the answers, enlisting experts to explain esoterica in layman's language. Says Jeffrey Hollender, 26, executive director of Network: "We've expanded...