Word: investers
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Despite their large endowments, major universities invest rather than spend their gifts, Davie said. "Harvard keeps the money [it gets from donors] and invests it at 12 percent, and borrows at 8 percent in the tax-exempt bond market rather than use the money people gave them," he said...
...letting his sons own the others. Other dealers who wanted to increase revenues started taking on hot-selling imports. Owners of Chevrolet or Cadillac franchises were soon selling German and Japanese cars as well. This year GM changed its rules, allowing dealers to own five separate GM franchises and invest in five more...
Just how cut-throat are these youthful entrepreneurs? Mann says, "You really don't have to invest a cent to join our club. Education and fun are important goals...
...fact, the club has proven itself so reliable that, last year, Quincy House Committee allotted $500 to invest with the club and, according to Mann, they gained "an effective annual yield of 10 percent...
However ruthless and mercenary all of this may sound, Davis is quick to point out that the club is not without morals. "We don't invest in companies operating in South Africa...