Word: bondses
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But even more problems awaited nuclear energy. In 1983 the Washington Public Power Supply System, or Whoops as it was facetiously labeled after postponing or canceling construction of four of five proposed nuclear plants, sent financial markets spinning by defaulting on $2.25 billion worth of bonds. In the months that...
HMC also calls on Wall Street when Harvard needs to make its own contribution to the market. The University issues bonds to pay for renovation costs and hires brokers to act as intermediaries in selling the bonds. "In that case they're a client of ours," says Cabot. "If IBM...
By the time we left, we had exchanged addresses and hugs. We felt very close to the Luries. With only a limited time to meet these people, the usual process of developing a friendship accelerated, and emotional bonds solidified rapidly.
Both the council and the bill of rights are expressions of growing restiveness at some of the country's biggest public pension funds. The group was founded 15 months ago by fund managers who have some 60% of their assets invested in stocks and bonds and who have felt unfairly...
The guiding force behind the council in its effort to redress that balance is one of California's best-known pols, Jesse Unruh, 63. Once nicknamed "Big Daddy," Unruh achieved national prominence as speaker of the California state assembly from 1961 to 1969, then lost a race for the governorship...