Word: chips
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Other factors also contrive to make the market look fairly attractive. The last two bull markets started during recessions, after interest rates fell and investors began to sense recovery ahead. Also, stocks now are cheap. Corporate profits have almost doubled in the past four years, but many blue-chip stocks of big, old companies are selling at mid-1975 prices. The increasing number of corporate takeover bids suggests how undervalued they are. The Dow industrials are selling at 93% of book value, the worth of the assets minus the liabilities and divided by the number of shares outstanding. Thus...
...Harvard Police Association, representing the 43 uniformed officers, successfully used the all-time low police morale as a major bargaining chip in their prolonged contract talks. This year promises to be different; the changes once viewed as the machinations of one police chief are now firmly embeded institutional realities, morale is better, a new police chief has ushered in many of the extralegal union demands made three years ago. And with a full-fledged recession in gear and spiraling inflation, this is simply not a good year for extracting more than 7 per cent wage hikes and better benefits...
...nefarious corporation while falling in love with each other, Somers and Sutherland took time out for a peek at 1600 Pennsylvania Avenue. Jimmy Carter was busy and Rosalynn was out of town as they rolled up to the gate in his and her studio limousines, but swinging Son Chip happened to be on hand. "I see you're doing your part for the energy crisis," chided Chip, who then led his guests on a brief tour and joined them for a hand-in-hand photograph on the White House lawn. What a nice souvenir, especially for the movie...
Considering the blue-chip ballot, there was certainly nothing political about the decision. The vote of the 34 owners of a co-op at Manhattan's 19 East 72nd Street blackballed a $750,000 apartment sale to Richard Nixon. The former President had sought to purchase a nine-room penthouse in the expensive East Side high-rise so that he and his wife Pat could be closer to their children. But the other owners believed that the Nixons would have attracted curiosity seekers and destroyed what one blackballer called the ambiance of the building on the corner of Madison...
...Michigan district for opposing excessive regulation of the auto industry. Last year he helped defeat Carter's complex hospital cost-containment bill because he felt it was "a cure worse than the disease." Stockman's main goal is to reduce the role of the Government in society and to chip away at "the social pork barrel?the tremendous pressure of parochial, narrowly defined interests...