Word: goldmans
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...have been justified by rising costs, without losing market share to a host of U.S. and global competitors. The current rebound is more difficult to explain: competition is certainly no less keen, nor price boosts any less risky. But Abby Joseph Cohen, chair of the investment-policy committee of Goldman Sachs, gives much of the credit to corporate managers who have figured out effective strategies for prospering in that environment. To scratch beneath the surface, TIME looked at some of the enterprises that have wiggled out of the squeeze and extracted a few tips from the successful...
...more of a manufacturing and marketing push on such higher-margin products as servers, workstations, notebooks and storage. These products accounted for 39% of Dell's sales in the first quarter of 1999, up from 24% in the first quarter of 1997. Rick Schutte, a high-tech analyst at Goldman Sachs, believes the company is shooting for 50% in two to three years and that it will get there--largely because its PC profits will enable it to price the high-end products below competitors that have scanty or no profits...
...dagger in the heart" of the U.S. stock market, says Vincent Farrell, chief investment officer of Spears, Benzak, Salomon & Farrell, an investment firm. But he believes the dagger is well sheathed: "Interest rates have probably about run their course." Abby Joseph Cohen, who chairs the investment policy committee at Goldman Sachs, is more emphatic. Says she: "I think yields on long-term bonds cannot move much higher and stay there on a sustained basis...
...Usually when companies go public they use an investment bank like Morgan Stanley or Goldman Sachs to help market the stock to big investors. The banks charge a hefty sales commission -- called an underwriter's fee -- for the service, customarily around 7 percent of the total offering price. Instead Salon paid just 5 percent to San Francisco's W. R. Hambrecht. But here's the more important part. The mechanics are complicated, but common sense says that iVillage's offering price was set too cheap if it immediately quadrupled. Even though iVillage's first-day run-up was spectacular, most...
...those whose friends or family members have been stricken. "Oh, remember Dave from Lowell? He didn't know what he was doing at graduation and he turned out fine." Or, "My cousin didn't have a job by the time of Commencement. Now he's married and works at Goldman!" Still others don't seem to have heard of the disease. Frequently it takes several tries to explain my condition. "So you're taking time off," they insist repeatedly. "Not exactly," I say, "since it's not really time off from anything." "Oh," they respond, with a blank, lost stare...