Word: investers
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...amounted to a valentine to U.S.-British relations. Her voice at times schoolmarmish but her delivery well modulated, the Prime Minister glossed over the battering of the British pound by the strong dollar, noting that "it is a marvelous time for Americans not only to visit Britain but to invest with us." On East-West relations, Thatcher insisted that the goal of the Soviet Union remained "the total triumph of socialism all over the world...
...their companies, have no more feeling for the average stockholder than they do for baboons in Africa." Pickens calculates that, as a group, officers of the energy giants own just three-tenths of 1% of their firms' shares. (Pickens owns 2.2% of Mesa.) Since they have relatively small investments in their corporations, he argues, oil executives have tended to let stock prices languish. "It infuriates me," he says, "to see them invest their own money in Treasury bills rather than work to improve the value of their companies' stock." According to John S. Herold Inc., an appraiser of oil companies...
...difficult for him to say, 'O.K., this is my family, they're not my employees.' " By the time of his divorce, a combination of business sense, luck and geological knowledge had made Pickens a millionaire. At the heart of his fortune were the energy finds and lucrative investments that had been made by Mesa, which Pickens formed in 1964. Some properties acquired by Mesa rose staggeringly in value. In 1959, for example, Pickens scraped together $35,000 to invest in drilling sites in Canada. Mesa sank the income from those sites into new wells and in 1979 sold its Canadian...
...Gulf battle made Pickens a Wall Street hero; investors who bought Gulf around the same time as he did earned millions in profits. Arbitragers, the professionals who invest in the stock of takeover targets in order to sell it for a higher price once the merger takes place, walked away with a $300 million windfall. When some 50 of the speculators attended a dinner for Pickens last June at the Regency Hotel on Manhattan's Park Avenue, New York Mayor Edward Koch gave him a crystal replica of the city's symbol, the apple, in honor of the $50 million...
Divestiture is not an exercise in moral hand-wringing, an effort to isolate ourselves from events in South Africa. We believe it is absurd and useless to argue that we can ever be morally pure, because everything in which we invest, everything we buy, and every place we spend our money is somehow connected to a venture or an idea we find morally repugnant. Of those who continue to charge us with trying to wash our hands of apartheid through divestment we ask, why divest from Baker? Why not invest only in South Africa-related companies so we can have...