Word: flipped
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Ironically, fund managers will continue to buy freshly minted Internet stocks, if only to flip them back into the market for one-day gains. The days when every Internet IPO would double or triple on the first trade have vanished. But most still go up a quick 20% to 30%, low-hanging fruit for any money manager who can get shares at the IPO price. Lately, though, even the easy money has been harder to come by. A handful of recent Internet IPOs quickly fell below their IPO price, and dozens trade below the price of the first trade, which...
...This flip has reached equilibrium only this year, resulting in a merger that dissolves Radcliffe College and creates a new Institute for Advanced Study...
...American doesn't take many chances when it comes to procedure -- the airline programs its lists directly into the console, calling for pilots to flip a switch after each task is completed. Copilot Origel has told investigators that he recalled reading the checklist while Buschmann flew the jet, but investigators still haven't been satisfied about why certain steps -- first and foremost the deployment of the wing spoilers -- apparently weren't performed. A mechanical postmortem may help them decide; the wrecked plane got the Flight 800 treatment on Tuesday and was moved to a hangar for autopsy. The plane...
...Nerves still frayed? Salomon Smith Barney just introduced a bond (pegged to thestreet.com's Net index) that lets you play the Net game with a little peace of mind. Minimum redemption upon maturity in 2006 is $9 on the $10 note, no matter how far the index drops. The flip side: if the bond is called in 2005, returns...
...There really was no one like him in the annals of American art. What was so remarkable about him was not his genius as a cartoonist or his qualities as a "fine" artist, but the way he combined both within the same body of work. He didn't flip between a serious and a funny side. Both were intrinsic to the same images, which entranced his audience for decades. But this also delayed his recognition as a major American artist. Even now it's not as generally accepted as it ought to be. His friend, the late critic Harold Rosenberg...