Word: investor
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Dates: during 1960-1969
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...year ago, Millionaire Investor-Sportsman Robert B. Evans began buying up nearly $3,000,000 worth of American Motors Corp. stock figuring "what a deal it would be if I could turn that company around." Last week, reporting A.M.C.'s 1966 operations as the auto firm's principal stockholder and its chairman since June, Evans showed that American has farther than ever to turn. After a modest $5,200,000 profit in 1965, the company came out with a $12.6 million loss for the fiscal year ended in September - and in the red for the first time...
Musician, band hooker, cattle breeder, antique collector, real estate investor, holder of a seat on the New York Stock Exchange-Jules Caesar Stein, 70, has made money in all those roles. To say nothing of founding the Music Corp. of America and parlaying it into a $300 million music-movie-TV empire. Not surprisingly, he never found much time to work at the profession he trained for: ophthalmology. But last week Dr. Stein made amends...
...second half of 1967, predicts the London and Cambridge Economic Bulletin, public capital spending will exceed private capital investment, $3.70 billion to $3.65 billion, thus giving nationalized industry predominance in the British economy for the first time. The decline of demand, employment and profits has eroded investor confidence. Prices on the London stock exchange fell to 1966 lows last week, down 22% since June. The pound, too, slipped on world money markets, and the Bank of England had to come to its aid once more with support purchasing...
Robert Sage, speaking for a six-man investor syndicate, said that a twin tower and more parking facilities may be added on top of the parking lot in 1972-1975. The additional construction will depend on the anticipated traffic demand of the Kennedy Library Complex, he said...
...make an intentional default profitable for the builders. The agency insures up to 90 per cent of the total cost of a 220 project, including both the market value of the land and a 10 per cent profit allowance for building in its computation of the cost. But investors can sometimes swing deals to buy development plots below market value, and then take the 10 per cent profit for their own construction companies. They may also build projects for less than the estimated cost. If the investor defaults, he retains the mortgage money, well-padded over the actual cost...