Word: heebner
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...some investors think the technology group is due for a bear market. "It's a cyclical business, but it's being treated like a growth business," says Ken Heebner, manager for the Consolidated Growth Management family of funds. "We are over the top of the cyclical curve. I predict a very big decline over the next 12 months." And some professionals think such stocks are not worth the anxiety. "The stocks are absolutely fascinating to watch," says Eugene Peroni Jr., a market analyst with Janney Montgomery Scott, "but you just have to dismiss them and perhaps go into some less...
Many experts are alarmed about the high level of consumer debt. Warns Gilbert Heebner, chief economist for Philadelphia-based CoreStates Financial, a bank holding company: "Debt problems have the potential to retard economic growth and, at worst, lead to another recession." And if a slump comes, many debt-laden families could sink into insolvency. Says Henry Kaufman, chief economist for Wall Street's Salomon Brothers: "American households as a whole have never been more exposed to a downturn...
...postwar period. They consequently see no need to borrow funds at the still relatively high rates so as to expand capacity or hire new workers. General Electric Chairman Reginald Jones predicts that the prime rate will sink to 12% or 13% before investment picks up. Explains Gilbert Heebner, chief economist at the Philadelphia National Bank: "It was like 20% was some magic threshold. Borrowers simply stopped borrowing. Even small independent businessmen like farmers chose to liquidate their crops rather than borrow money...
Whimsy & Butterflies. So far, Heebner has recorded 46 Welte artists and gleaned from the rolls enough music to fill 40 LPs. He still has 60 artists unrecorded. Having despaired of distributing the records through major labels because of their inevitable involvement-with discount sales, Heebner plans to sell his albums by mail order-twelve LPs a year in editions of 5,000 priced at an unvarying $12.50 each. For openers, three LPs in a handsome package will be offered to Book-of-the-Month Club members this week at $17.95 for monaural and $19.95 for stereo...
...Heebner is counting on musicologists and students of the piano to provide him with something of a perpetual trust fund; the records, he thinks, will never go out of date. But flawless and fascinating as they are, careful listeners may find them full of disturbing surprises. Many of the classic works are given performances that are difficult to reconcile with modern piano interpretation. The effect of changing taste and style on the music is startlingly apparent...