Word: esmark
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Last week Esmark, the big Chicago conglomerate, announced that it was approving a $2.4 billion takeover by Kohlberg, Kravis, Roberts & Co., a New York City investment firm. A bidding war for Esmark, whose brand names include Avis car rental and Max Factor cosmetics, might get started. The price of Esmark's stock immediately shot up in expectation of a takeover battle. Said one Esmark official: "We hear that there are higher offers, and the investment bankers are out looking for them right...
...predetermined annual payouts during retirement. Many investment firms are encouraging corporations to set up programs that allow employees to invest in IRAs through payroll deductions. The Dreyfus Corp. of New York City, for example, already manages employee IRAs for more than 50 companies, including Warner Communications, RCA Corp. and Esmark...
...winner is the first one to triple the value of his starting capital. Twenty firms, including Aetna Life & Casu alty, Mobil Oil, W. R. Grace, Chase Manhattan and Esmark, paid $30,000 each for the publicity value of having their names appear on the game board...
...Esmark...
This was accomplished by replacing two of the stodgier performers, Chrysler and Esmark (formerly Swift & Co., the meat packer), with glamorous Merck & Co. and IBM, which is the market's most popular growth stock. Their inclusion reflects the rising importance of technology and drug companies in the economy and stands to make the Dow somewhat more volatile. Both companies' shares have risen substantially in value over the past two decades (Merck has more than tripled, IBM has quintupled), and relatively high-priced stocks usually have sharper swing than do lower-priced ones. Had IBM and Merck replaced Chrysler...