Word: half
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Dates: during 1990-1999
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...surprise, then, that much of the competition isn't faring too well either. Close to half the 600 or so mutual fund families experienced net withdrawals in the first quarter of 1999, and floundering funds were merged out of existence at a record pace last year, according to Lipper Inc. Once-high-flying firms such as Stein Roe, Pilgrim Baxter and Berger Associates are reassigning dud managers and hustling to attract new money. Says Stephen Cone, president of customer marketing at Fidelity Investments. "We're not going to see the phenomenal growth of the past, and that...
They may soon have no jobs at all. Some observers think that within a decade, more than half the 600 fund companies could disappear, as outfits with less than $50 billion in assets become ripe for the picking. With the big boys dominating the highly profitable institutional side of the business--401(k)s and other retirement plans--and much of the growth now coming from market appreciation, it will be hard for a second-tier player to shine...
...River, it had split in three, and a fire had broken out near its left wing. As it erupted in flames, passengers fled for their lives. Nine people, including veteran pilot Captain Richard Buschmann, died--the first fatalities on a major U.S. airline in nearly a year and a half--and 83 were injured...
Ricky Martin is right to say he "didn't have to go to English to make it." The new English-language album seriously lacks the intense flavor and zest of his four previous Spanish releases. The watered-down American pop doesn't show half of what he is capable of doing. Hey, Ricky, those of us who see you in our dreams want you whispering those sweet nothings in Spanish. JULIANNE HANSON Fremont, Calif...
...technology officer Nathan Myhrvold's leave of absence was, according to some sources at the company, engineered by president Steve Ballmer. Myhrvold, who has occasionally written for TIME, assures us--and other Microsoft executives agree--that his leave was his own choice and that he has not been spending half his time on his own outside interests. We did not mean to spoil the joy of his well-earned leave...