Word: ince
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Dates: during 1980-1989
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Beepers seem destined to become the most popular portable electronic devices since the Sony Walkman. Apart from teenagers, who would just as soon not stay in touch with their parents, the potential market is huge. The Cambridge, Mass., consulting firm of Arthur D. Little, Inc. estimates that by 1990, 7 million beepers may be in use, compared with 2.5 million today. By the end of the decade, annual sales could reach $86 million and revenues from fees $2.8 billion...
...that is practically equivalent to a pocket secretary. It has a window for displaying transmitted information up to 80 characters in length and a computer memory that will store as many as four messages if the user is, for example, in a meeting. Both devices are made by Motorola, Inc., which also sells pagers under its own name...
...that investors are feeling decidedly bullish about high-tech stocks, Merrill Lynch, characteristically, is thundering to the head of the stampede. Last week the firm announced it had collected $835 million from investors for shares in its new twin mutual funds called Sci/Tech. Sci/Tech Holdings, Inc., for U.S. and Canadian investors, raised $550 million, while Sci/Tech, S.A., for overseas investors, attracted $285 million. The offering turned out to be the largest mutual fund start-up ever, leagues ahead of the second largest, Manhattan Fund, launched in 1966 with $247 million. The Sci/Tech funds, which will have nearly identical portfolios, will...
Besides being the biggest of the 30-odd mutual funds concentrating on science and technology stocks, Sci/Tech boasts a prestigious international management team. Under Merrill Lynch's direction, assets in Japan and the Pacific Basin will be managed by Nomura Capital Management, Inc., an affiliate of Japan's largest securities firm, Nomura Securities Co., Ltd. West European investments will be handled by Lombard Odier International Portfolio Management Ltd., a London-based subsidiary of one of Switzerland's oldest and largest private banks. Merrill Lynch Asset Management, already the biggest U.S. manager of mutual funds, will handle Sci/Tech...
...loot was handed out last month in Key West at the offices of Treasure Salvors Inc., the outfit that found the hoard on the ocean bottom. Three years ago, the investors, ranging from a California brain surgeon to a Florida auto dealer, paid $20,000 for each of the 35 units in a unique tax-shelter limited partnership. The deal was the brainstorm of an ebullient New Jersey tax-shelter specialist, Jerry Burke, 50. The money entitled the investors-partners to 17.5% of anything recovered during 1980 from the Spanish galleon Santa Margarita. That ship and a sister ship...