Word: indexes
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Dates: during 1980-1989
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...Rashid al Maktun (who bought the record-breaking filly at Saratoga), have brought piles of new money into the enterprise. In addition, Thoroughbreds are tax sheltered and relatively portable collectibles whose value has appreciated not only more than inflation but well beyond most other investments. The Dow Jones index rose a bare 7% in the past 20 years. Prices at sales like Keeneland's have skyrocketed by 2,600%. "From an investment point of view," says New York City Consultant Robert Fierro, "oil and gas are dead. Equipment leasing is dead. Real estate, especially in California, is dead. Thoroughbreds...
...executive suite. They are found everywhere today, from dentists' offices to living rooms, but many top business managers simply do not want a keyboard and video-display terminal cluttering up their mahogany desktops-almost as if the machines were aesthetically distasteful. Says John Thompson, a vice president of Index Systems, a management consulting firm: "There is a widespread assumption among executives that computers are something to be put in the basement, where they can harmlessly belch forth paper with holes in the side...
...York State's six-year-old "prospective reimbursement" program. In it, state officials examine the prior year's operating budget for any hospital that participates in the state-administered Medicaid programs and Blue Cross/Blue Shield. The examiners then add a special cost-of-living index, and decide how much the hospital will be reimbursed in the coming twelve months. Result: annual hospital costs in the state have risen between 8% and 10% since 1976, while the U.S. figures have jumped...
...judge what is "significant," the guidelines use the so-called Herfindahl index, a mathematical formula developed by the late Orris C. Herfindahl, a Washington economist. Traditionally, antitrust lawyers have relied on a rule-of-thumb approach. It was believed that the Justice Department would permit any mergers that did not concentrate 75% or more of a particular market in the hands of four or fewer companies. The Herfindahl index sets up a clearer, although more complex, set of guidelines...
Calculating the index sounds difficult, but is really quite easy. The formula is applied by adding together the sum of the mathematical squares of every company's market share in a particular industry or business. For example, if five companies each have 20% of a market, the Herfindahl index for that market would be 2,000. A merger of two of those companies, though, would automatically push the index to 2,800, and the 800-point increase would almost certainly provoke a challenge under the new guidelines. By contrast, the index for a market in which 20 companies each...