Word: investers
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...York State Bank would be a much bigger operation. It would get all of the $3 billion or so in state government deposits now scattered among commercial banks, making it immediately one of the 25 biggest banks in the country. It would be permitted to underwrite municipal bonds, invest in job-producing industries, manage trust portfolios, and solicit deposits from companies and individuals. The bank could open branches anywhere in the state; private banks will not be allowed that privilege until January...
Bird is at her weakest in overstating the financial advantage of not going to college. She plays games with statistics, arguing that if a high school graduate invested the equivalent of four years' college costs in a lump sum in a savings bank and went to work, his lifetime income (including compound interest) would exceed the earnings of a college graduate. The greatest fallacy in that line of reasoning is the fact that high school seniors do not have the $25,000 or $30,000 representing their college costs in a lump sum to invest. Nonetheless, Bird is correct...
...Arabia), domestic and Eastern European demand will outstrip output by 1980. The Soviet Union and its Comecon partners are already importing small quantities of high-priced Middle Eastern oil, mainly from Iraq, Iran and Libya. Hence the Soviets are in a rush to develop new Siberian fields. They must invest lavishly in expensive Western equipment and drill in a remote region where operating costs will be high...
...mission was an odd one--the professors, John K. Fairbank '29, Higginson Professor of History, Edwin O. Reischauer, University Professor, and Ezra Vogel, professor of Sociology, among them, were told to fend for themselves. They cultivated their Far East contacts and encouraged Japanese businessmen and government officials to invest in Harvard. "We must rely on alumni and business contacts--we professors are not businessmen ourselves," Fair bank recalls today...
...month on the job, Chairman Scott, 44, took a tradition-shattering step toward revitalizing a company that long ago lost its place as the monarch of U.S. food retailing. He knew that A. & P.'s secretive, sometimes smug management had determinedly followed outmoded policies. It failed to invest in modern suburban supermarkets but held on to too many small, low-profit central city stores that seemed mustily Dickensian compared with the competition. So Scott won the board's preliminary approval to shut down fully one-third of the chain's 3,500 stores...