Word: fallen
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Dates: during 1980-1989
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...takeover deal must be approved by Continental shareholders, who still hold 20% of the bank stock and stand to be major losers under the plan. Continental stock has already fallen from 25¼ to 4½ since last September. They are expected to endorse the agreement because the only alternative is bankruptcy, which would wipe out the entire value of their shares. Approval is expected in September...
...thing they wanted a few months ago. While many customers have fled the bank, others have stuck with it out of loyalty. Says Donald Romans, vice president of Bally Manufacturing, a billion-dollar customer: "We will support Continental as long as it is able to support our business." Some fallen-away depositors like the Kemper Money Market Fund, which last May stopped buying Continental's certificates of deposit, are thinking about returning. Said Kemper Portfolio Manager Frank Rachwalski...
...EAST. Even though the yen has fallen 9.9% against the dollar since 1980, Tokyo remains an expensive place to visit. "I haven't found anything cheaper in Japan," snapped a visitor from Ohio. Dinner at a good Tokyo steak house runs about $24, up $8 from 1980. Nor are electronic wares or other Japanese specialties particularly cheap. American shoppers are finding that high-quality Japanese cameras cost about as much in Tokyo as in New York City. But many travelers say that they did not go to Japan for the bargains. One survey found that most Americans were attracted...
...protected against losses, even those with accounts larger than the legal $100,000 coverage limit. Stockholders, though, could lose the largest share of some $2.2 billion in equity if the Government takes over. Stockholders have already taken a beating in the market. Since last September, Continental stock V, has fallen from 25¼ to 3½. Said one Chicago investment analyst last week: "This is as if you were in the Viet Nam War and didn't get out on the helicopters. That's what's happening to the stockholders...
...long agony at Continental and the worsening of the Latin American debt crisis have become a drag on the whole banking industry. During the past three months, stock prices of major New York City banks have fallen more than 13%. Said James Wooden, the bank-industry analyst for Merrill Lynch: "Continental's problems are probably unique and not transferable to other banks. On the other hand, they represent a very serious do mestic banking problem that must be dealt with. The sooner those problems are solved, the better...