Word: cash
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Dates: during 1980-1989
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...around the rule, officials in Gephardt's Iowa organization secretly enlisted a small-town newspaper publisher to serve as a front man and paid local residents $20 an hour in cash to distribute and collect the ballots. Keith Dinsmore, Gephardt's Iowa communications director, cut the deal with Ken Robinson, publisher of the tiny (circ. 1,500) Bayard News. At a late-afternoon dress rehearsal at the Starlite Village hotel, adjacent to the auditorium, Robinson sat quietly while Dinsmore instructed Drake University students and a handful of other paid recruits on how to poll the 8,000 Democrats expected...
...appeared before Judge Robert Lippmann five days after her commitment to Bellevue, she was calm and articulate. The nearest public toilet was at Grand Central Terminal, too far to walk, she explained. She tore up money when she had enough for the day because it was dangerous to carry cash at night. Yet do-gooders persisted. "I've heard people say, 'Take it, it will make me feel good,' or 'I'm only trying to help you,' " Brown complained. "Is it my job to make them feel good...
Take, for example, their attitude towards Yale today: all they do is watch football games and wander around talking about secret societies. Sure, they mail in a check now and then. But the cash never goes directly to help us students...
...managers had moved away from cyclical stocks, such as steel and tires, and into defensive shares in food and drug companies, which are less vulnerable in an economic downturn. Some funds that specialize in electric and telephone utilities dropped 12% or less. Other prescient managers had built up their cash reserves, which lowered their exposure to the market and allowed them to pay off any redemptions without being forced to sell stocks at a loss. Says John Neff, who manages the Windsor Fund: "We saw a correction coming, so we had plenty of gunpowder stashed away...
...most mutual-fund companies could not take full advantage of those opportunities. Many exhausted their cash reserves and had to sell stocks or borrow from banks to meet redemptions. Even so, no companies were mortally wounded. Diversification helped large firms like Fidelity, which has 4.7 million accounts in more than 100 different funds. Some 98% of the customers who cashed in shares of Fidelity stock funds merely transferred the money into the company's other funds, including money-market accounts...