Word: funded
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Dates: during 1980-1989
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Radcliffe College received a grant of nearly $200,000 last month to fund three new research fellowships for the study of human motivation and behavior at the Murray Research Center...
...grant money, furnished by the Seaver Institute, a foundation sponsoring research in health and the arts, will fund a program for post-doctoral researchers at the Murray Center beginning next September...
...most mutual-fund companies could not take full advantage of those opportunities. Many exhausted their cash reserves and had to sell stocks or borrow from banks to meet redemptions. Even so, no companies were mortally wounded. Diversification helped large firms like Fidelity, which has 4.7 million accounts in more than 100 different funds. Some 98% of the customers who cashed in shares of Fidelity stock funds merely transferred the money into the company's other funds, including money-market accounts...
Over the long term, however, such switching could hurt the profitability of the fund companies, since money-market and bond funds bring in lower sales commissions and management fees than stock funds do. Most fund managers hope that investors, after a period of cooling their nerves, will venture back into the stock funds. Says Edward McVey, senior vice president at Franklin Resources: "As soon as people got over the initial trauma of Black Monday, they were calling up to reverse their redemptions." Michael Lipper, president of Lipper Analytical Securities, is not quite so confident. "The panic is over," he says...
Mabus announced that his first business will be to raise the pay of schoolteachers to the average of the other states in the Southeast, $23,100. That will cost the state close to $165 million, and he proposed, perhaps unrealistically, to fund the hike without raising taxes. His brashness alone might go a long way toward restoring his state's pride. When asked which state would serve as his model for education reform and economic development, he replied, "The one state that people ought to look at is Mississippi. We're gonna be an inspiration...