Word: investments
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Dates: during 1980-1989
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What allows a club to survive beyond what many have labelled "the average lifespan of 1000 nights"? To a large extent, the answer is determined by the energy and stamina an owner can invest in his creation. For Rudolf the answer is simple: "I do nightlife with passion, for my own entertainment; when I get bored here, I change it." But he adds, "Some change the decor and have the illusion they're changing the club. You have to change the spirit...
Although the majority of the income from the Black Rock Trust Fund is now used for Petersham, under New York state law governing charitable trusts, Harvard must support the little-used Black Rock Forest for silviculture research. Harvard cannot invest heavily in the Petersham forest--and today, new funds for forestry are not readily available...
Despite their large endowments, major universities invest rather than spend their gifts, Davie said. "Harvard keeps the money [it gets from donors] and invests it at 12 percent, and borrows at 8 percent in the tax-exempt bond market rather than use the money people gave them," he said...
...letting his sons own the others. Other dealers who wanted to increase revenues started taking on hot-selling imports. Owners of Chevrolet or Cadillac franchises were soon selling German and Japanese cars as well. This year GM changed its rules, allowing dealers to own five separate GM franchises and invest in five more...
However ruthless and mercenary all of this may sound, Davis is quick to point out that the club is not without morals. "We don't invest in companies operating in South Africa...