Word: investers
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Company pension plans, however, have other problems. Most firms invest about 8% of their payroll costs in a pension fund to meet retiree requirements, but some cash-short companies have cut back on pension fund contributions. The result is a shortfall in the amount of money needed to meet pension obligations...
...Sears," proudly claims America's largest retailer in its advertising. Until recently that slogan referred mainly to consumer goods like clothes, dishwashers or power tools available in its 859 stores. But customers may soon turn to Sears to buy a house or a share of stock or invest in a money-market fund. In two lightning moves last week, the company stepped boldly into one-stop financial shopping. First it offered about $180 million to buy Coldwell, Banker & Co., the biggest independent real estate broker in the U.S., and then it bid some $600 million for Dean Witter Reynolds...
Whatever individuals may have cashed in on the deal, the acquisition should be beneficial for both Santa Fe and Kuwait. Though it has grown at a compound annual rate of nearly 23% since 1950, Santa Fe in recent years has been forced to invest larger and larger amounts of capital to keep expanding. Kuwaiti ownership would give the firm the financial clout to broaden its presence in such lucrative markets as the British North Sea, where it holds a 16% interest in the Thistle Field...
While going through documents that came across her desk, Secretary Marion Gibson, 42, began to surmise that her boss, John Z. De Lorean, 56, founder of the De Lorean Motor Co., had managed to avoid spending about $3.3 million the company was supposed to invest on its automaking facilities in Northern Ireland...
With its cash position improved and its stock underpriced, Congoleum decided to invest in itself. In early 1980, the conglomerate, with several blue-chip insurance companies, bought up all its outstanding publicly held stock for $450 million and went private. Prudential now has 29% of the company, with smaller pieces held by Aetna, Travelers and Connecticut General. In addition, Eddy G. Nicholson, chief operating officer of Congoleum, and Byron C. Radaker, its chairman, are shareholders...