Word: dreyfusism
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
DIED. Abraham Pomerantz, 79, lawyer who pioneered suits by small shareholders against officials of such big organizations as McDonnell Douglas Corp. and the Dreyfus Fund; in New York City. Pomerantz specialized in so-called derivative suits, in which the company receives the award and passes it on to all stockholders. He was known for charging high fees and for sometimes representing the same companies whose stockholders he championed. "I love the buck," he once said. "I'm out to make it. But when it's a question of the rich against the poor...
Last week's announcement by Dreyfus Corp. that it wanted to start its own national bank escalated the war between banks and money-market funds to win consumers' savings. Banks are already well on their way to becoming more like the money funds. Under a bill signed by President Reagan last month, the banks will soon be permitted to offer a new product that will pay as much interest as the banks...
care to shell out on deposits that perhaps may be as small as $2,500. Said Citicorp Chairman Walter Wriston: "I think it's terrific." Dreyfus, which manages the third largest money fund with assets of $12 billion, reacted swiftly. Just days earlier, it had announced plans to buy the tiny Lincoln State Bank of East Orange, N.J. By making application to the U.S. Comptroller of the Currency for permission to start its own bank as well, Dreyfus sent a signal that it was determined to get into banking one way or another. Investors in the Dreyfus Liquid Assets...
more comfortable dealing with a bricks-and-mortar institution than with a firm like Dreyfus that handles deposits and withdrawals by mail. More important, bank ownership would allow Dreyfus to provide federal insurance for its depositors up to $100,000, a competitive advantage that money funds currently lack. If Dreyfus is successful...
...their forecasts because they could no longer foresee a robust economic recovery that would revive business-loan demand and boost the cost of money. Yet, without a strong reversal of business fortunes, the stock rally is likely to be short-lived. Says Monte Gordon, chief of research for the Dreyfus Corp. group of mutual funds: "Markets can respond to interest rates' coming down, but they can mount a sustained upward move only when corporate earnings improve. This is the food on which bull markets feed." Gordon believes that the Dow will rise only to about 900 in the next...