Word: invest
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Dates: during 1960-1969
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Golfing Decision. U.S. Trust's basic investment policies are set by a three-man leadership: Chairman Hoyt Ammidon, Vice Chairman Berkeley Johnson and President Charles Buck. The decision as to whether or not to invest is based about 20% on a company's product and ability to market it, and 80% on the bankers' personal assessment of the company's president and top management. Vice Chairman Johnson believes that "you can learn quite a bit about the ethics and personality of the man you are dealing with by playing golf or going shooting with...
...professionals have fared no better. George Miller, senior vice president of the San Francisco firm that manages the $544 million Commonwealth Group of Mutual Funds, encourages his analysts to invest with their own cash. "Virtually without ex ception, they are losing money now," he reports. Dr. Shannon Pratt, director of the Portland (Ore.) State University Investment Analysis Center, estimates that the value of his own stocks has dropped 23% since May-a period during which the Dow-Jones industrial average has gone down 15%. He invests largely in over-the-counter stocks, which rose faster than most listed shares during...
...other leaders plead for more time to strengthen companies against aggressive foreign rivals-and time to squeeze the necessary decisions out of the consensus system. Japan's exasperated trading partners are no longer in any mood to grant that time. For instance, Japanese companies do not invest much in research, but instead rely largely on buying foreign technology. U.S. companies, in particular, no longer want only to sell technology. They want in on the Japanese market...
...splendor of Britain's royal heritage will be unfurled for an estimated 500 million television viewers next week as Queen Elizabeth journeys to Caernarvon Castle in North Wales to invest Charles as Prince of Wales. The title has been Charles' since his mother announced, when he was only nine, her intention of awarding it to him. The investiture will mark his formal installation. It will also serve to signal the end of Charles' royal adolescence (he turns 21 in November) and his acceptance of the role and tasks of apprentice sovereign. Perhaps most important, the ceremony is designed to honor...
...Slope drilling without the depletion allowance, and claim that the allowance is necessary to spur further development. Despite the likelihood of a cut in the allowance, however, the managers of Atlantic-Richfield, British Petroleum and Jersey Standard believe that the find will be so profitable that they plan to invest $900 million in an 800-mile pipeline. It will bring the oil to the ice-free port of Valdez, Alaska. In order to expand its marketing of Alaskan oil, British Petroleum last week announced its intention of merging with Standard Oil of Ohio, whose stock promptly shot up 271 points...