Word: investers
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...cost of money. Although some interest rates fell slightly last week, the yield on risk-free, 30-year U.S. Treasury bonds went briefly last week to an unheard-of 15.32%. With bonds paying those rates and money-market funds giving 17% interest, few people are in a hurry to invest in common stocks...
...Oklahoma-based Kerr-McGee Coal Corp. is clearing a 3,000-acre site on both sides of Highway 34, barely a mile east of Galatia, for a new deep-shaft mine. The company plans to invest $185 million in the venture, which will employ up to 700 miners-all nonunion. Many towns would greet such an investment with enthusiasm. Galatia...
...That in turn threatens further bursts of inflation in an economy that is already racked by price rises of more than 13%. Not only will the government wind up having to print more money, but increasingly it will have to assume the task of deciding where and how to invest those funds. Warns Economist Laulan caustically: "We have already had experiences of government investment decisions like the Concorde that turn out to be stupid. Look for more of these...
When the ballclub signed the Brigham Young sophomore, it was prepared to invest X dollars and X years in the hope that he would become a major leaguer somewhere down the road. Similar gambles are made on dozens of similar prospects every year...
...Grand Avenue, Milwaukee. A $60 million, three-level shopping mall in the heart of downtown, the development will link two existing department stores three blocks apart. With financing from private and public sources (the Rouse Co. plans to invest about $15 million), the 245,000-sq.-ft. project is constructed around a 1915 landmark, the Plankinton Arcade, which is being brilliantly restored. Estimated completion date: spring...