Word: grech
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...young, aspiring fund manager's dream. Early this month, mutual-fund giant Fidelity reached into obscurity and fingered Matthew Grech, 28, a semiconductor analyst, to run its faltering, $2 billion Select Electronics mutual fund. Bull-market madness? Perhaps. But if it is, Fidelity is not alone. With record amounts of capital flowing in ($30 billion just last month), mutual-fund firms are hunting for fresh talent in novel places--not quite kindergarten, but not very far removed from school...
...average manager's age still stands at a respectable 48, according to fund researcher Morningstar, but new technologies and new demand for investments have created a bull market for fund managers. And a deep resume isn't necessarily a requirement for the job. Grech, for instance, has been out of business school for two years, joining precocious stock pickers like his rising Fidelity colleague Erin Sullivan, also 28. While few shops actually give newbies a chance to run a fund as early as Fidelity, it's not too hard to find a fund at any firm that's watched over...
...surface off Point Sur, 100 miles south of San Francisco. A fisherman, Dave Canepa, had netted scraps of wreckage from the site in the late 1970s. They had hung for years in Jeanne B's restaurant in Moss Landing. Several years ago, the alert wife of oceanographer Christopher Grech saw the relics and told her husband. He found Canepa, who recalled where he had snagged the pieces. The Navy's sub crew located the Macon on its first dive. Several museums have proposed joint recovery operations with the Navy so that the Macon can rise again and not be forgotten...
What we have here is a conscious mixture of the less than definable music Traffic's made since 1967--elements of psychedelia, sixties rock, some rhythm and blues, some jazz--and the distinctive southern R 'n' B played in Muscle Shoals, Alabama. Traffic's last rhythm section, bassist Ric Grech and Jim Gordon on drums, were rockers, pure and simple, particularly Gordon's white rock/gospel/white R 'n' B background. (He was with the originators of white gospel, Delaney and Bonnie, as well as with Cocker, Leon Russell, and Derek's Dominos). New members Roger Hawkins and David Hood, on drums...
Family has been together since 1967, but remained relatively unknown until this year. Ric Grech and Jim King left the group last summer, and Grech went on to play bass for a widely publicized, but short-lived coalition known as Blind Faith. The foundation of the group-singer Roger Chapman and guitarist John Whitney-remained, however, and they created a new Family. They eliminated Grech's cello and King's oft-times superfluous saxophone, and supplanted them with vibes and an electric flute...