Word: investments
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Dates: during 1980-1989
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...circular bar, bankers, businessmen, armed security guards, militiamen, spies and a few tourists were talking about land values. Indeed all over Beirut, the wheeling and dealing for which the city is celebrated had resumed. With land scarce and money plentiful because hardly anyone pays taxes, the Beirutis continue to invest heavily in property that has risen astronomically in price despite the destruction. Said one businessman: "People who never had a house before are building one now, while those who had them are rebuilding. I know a family whose home has been destroyed three times, and they have rebuilt three times...
From this position of overwhelming national strength, Merrill Lynch has helped change the ways that Americans spend, save and invest their money. No longer content to be merely the top trader in stocks and bonds, the firm is gearing up to challenge such venerable Main Street denizens as bankers, real estate brokers and insurance agents. Says Chairman Roger E. Birk: "We want to service as much of a person's financial needs...
...assets of $17 billion. It requires an initial deposit of $5,000, but the money earns a high return-last week 17.43%-and investors can write checks (of $500 or more) at any time. Better yet is Merrill Lynch's Cash Management Account. Customers with $20,000 to invest can not only reap high money-market yields but also write checks of any amount or use their accounts to pay for purchases with VISA debit cards. Some 300,000 people have opened Cash Management Accounts, which are available in 35 states, and another 1,000 are joining the program...
Since the formation of a professional corporation to manage Harvard's portfolio nearly a decade ago, University Treasurer George Putnam '49 may no longer make the day-to-day decisions about how to invest every Harvard dollar. But the soft-spoken unobtrusive businessman continues to be the key influence on university investment policy...
Claiming that the present investment policy is too "restrictive." Putnam urged repeatedly that the character of the loan be taken into account, and the policy revised to allow the University to invest in banks that loan money to South Africa for "humanitarian" purposes...