Word: funds
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Dates: during 1980-1989
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...Robert Mosbacher, 61, a cautious Texas oilman and longtime Bush friend and political fund raiser, was tapped as Secretary of Commerce...
...Armenian Americans, were amassing money, clothing and other supplies under the auspices of the American Red Cross. In Glendale, Calif., home to many of the state's 300,000 Armenians, a relief group quickly collected $7 million in pledges. In Cambridge, Mass., sister city to Yerevan, a disaster relief fund was launched to send medical supplies to Armenia. This outpouring of aid from Americans helped underscore Gorbachev's words when he told the U.N. General Assembly last week that "our common goal" can only be reached through cooperation...
...course, the stockholders, especially large ones, don't do badly either. Harvard, for instance, will not only see an approximately 40 percent return on the $20-40 million it invested in KKR's takeover fund, but being in the interesting position of helping raid a company they own stock in, they will get huge returns from those holdings when the new owners sell off parts. The closing of the takeover deal earlier this month meant that RJR stock was worth $109 per share--quite a bit more than than the $56 per share it was worth on the market before...
Harvard contended that it did not have any control over the decision of KKR to take over RJR and claimed that it could not back out of the deal. The Commonwealth of Massachussetts pension fund, which had also originally committed funds to KKR's limited partnership, pulled out because it did not approve of the hostile takeover process or RJR's connections to South Africa. Harvard's administrators, however, saw nothing wrong with donating University resources to this scheme...
Penny Duckham, a spokesperson for The Commonwealth Fund, which gave $375,000 for research and assistance to a Massachusetts program that will use local TV and radio to combat drinking and driving, says, "We are delighted with success they've been having. There are pretty horrific figures about people killed by drunk driving. To the degree we can contribute, we are going...