Word: hoards
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DaimlerChrysler has also paid the price for its mismanaged global ambition. Two successive chief executives, Edzard Reuter in the 1980s and Jürgen Schrempp in the '90s, aggressively pursued visions of international growth and diversification and financed them by tapping into the cash hoard Mercedes had built up over decades. In the process, the company, which once prided itself on its provincial roots in Baden-Württemberg, acquired a worldwide scale and presence in both cars and trucks--and bought some absolute dogs. That included a near bankrupt household appliance company (AEG), a teetering airplanemaker (Fokker) and a 37% stake...
...energy behemoth has been churning out profits. Over the past 12 months (through the end of March), earnings gushed to $28 billion--almost 40% above the previous year--on revenues of $306 billion. With minimal debt, the oil giant, based in Irving, Texas, is sitting on a $30 billion hoard of cash. The problem: What will the company do with all that loot...
...five-year growth rate at 8%, vs. the industry's 14%--and its share price, after a dramatic run-up last year that pushed the company's market value past that of General Electric, is now off its peak by 16%, at a recent $54. Yet the cash hoard just keeps growing, rising $7 billion in the first quarter alone. "A lot of investors might think that share buybacks and dividends and paying down debt are the way to go," says Robb Parlanti, a senior portfolio manager at Turner Investment Partners (which owns other energy stocks but not Exxon...
...turning 50 is no trifling thing, as my friends and I have discovered. Maybe we're too busy and too burdened to run off to an ashram, but in the small slivers of time that we hoard for ourselves, we seem to be bringing the ashram to us. Most of us are rethinking what's important in our lives and making a point of rebuilding old friendships. We're adjusting our frantic pace just enough to notice and savor small pleasures. The birthday gifts are telling: exotic tea and a glass brewing pot from a friend who has discovered that...
...that when I'd run out of a prescription, I would start to ache all over. I was so very distressed." She got a letter from her pharmacist urging her to return her supply of the drug, but she felt tempted--"very, very tempted"--to hang on to her hoard. "I'd taken it for five years with no problems at all," she says. In the end she figured it wasn't worth the risk. "So I returned it to the pharmacy and started suffering...