Word: investments
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Dates: during 1970-1979
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Part of Minnesota's secret lies in people's extraordinary civic interest. The business community's social conscience, for example, is a reflection of the fact that so many companies have their headquarters in the state. The Mayo Foundation has offered to invest $1,000,000 in face-lifting the downtown district of Rochester. The IBM plant there has given employees leaves of absence, with pay, to work on public interest projects. At the Mayo medical complex itself, now in the midst of its largest expansion in history, Honeywell, 3M Co. and other big state-based corporations have been major...
...couldn't click my heels." That was Peter G. Peterson's explanation of why, as Secretary of Commerce, he ran afoul of White House Strongmen H.R. Haldeman and John Ehrlichman. Peterson was ungracefully let go last December, but the Administration's loss became investment banking's gain. The personable, witty Peterson, 47, has been named chairman of Wall Street's Lehman Brothers, succeeding Frederick Ehrman, 67, who is retiring. "Pete" Peterson, a master at arranging international deals, will speed Lehman's expansion in international finance. Among opportunities that he foresees: helping some oil-rich...
...camera and hi-fi retail stores in New York and Pennsylvania, distributes the Minox and Konica lines of imported camera products, and since 1966 has owned Keystone. A cautious businessman despite his somewhat raffish appearance, Berkey still rues a day in the 1940s when he had a chance to invest in a new product called Polaroid cameras, "but I told them I wouldn't give them a nickel." Last year, Berkey finally managed to recoup a bit on that mistake: Keystone brought out the only instant camera that has ever been developed by a manufacturer other than Polaroid. Company...
...lesser-known stocks whose value has been cut in half so far this year. One result is that tens of millions of Americans, whether they know it or not, face the prospect of retirement benefits less generous than they had hoped for, because the stocks that their pension funds invest in have gone down. The dive has mystified even top corporate executives. Robert Oster, senior vice president of California's Bank of America, the nation's largest, reports that on a recent nationwide tour he kept hearing the same refrain from corporate clients: "How the hell...
...will help to choose among several alternatives including setting up an investment department within the University, dividing the endowment among several outside firms for them to invest, or continuing under the current system of having one outside firm manage all of Harvard's money...