Word: investors
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Dates: during 1970-1979
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...year; last week it closed at a 33-month low of 775.73. Many Wall Streeters believe the market is now oversold and some rebound in stock prices can be expected. But if the market is to recover over the long run, the Administration must find a way to restore investor confidence. Warns Mark Collins, vice president of the investment bank of Kidder, Peabody: "The stock market is saying there is no policy in this Government...
...Many investors can ill afford these months of preparation and waiting. Resorts International has laid off 600 employees, 75% of its work force at the Chal-fonte-Haddon Hall Hotel. Some investors may be unable to keep up interest payments on their loans unless gambling gets under way soon. Lenders may withhold additional loans until the first casino -probably Resorts International's entry -has been in operation for at least six months. "And by that time," complains one investor, "Miami may have casinos." Not to mention New York's Catskills and Pennsylvania's Poconos...
...advantage of them. Within one week the bank received 20 inquiries-from as far away as Lansing, Ill..-but no takers. One prospective depositor asked whether he could get three of the deluxe autos if he deposited $3 million. Emphatically yes, said Bank President Gerald Mclntyre. Whereupon the canny investor tried to drive a harder bargain. At week's end he was holding out for 6.5% interest and a time limit of only three years...
...injury as brokers contrast the current blah market with stocks in the Soaring Sixties. Then issues selling at 50, 60 and even 100 times earnings were not uncommon. Now many are going for ultralow prices of six, seven or eight times earnings. Bernstein, writing in November's Institutional Investor, a trade magazine, goes on to say that the experience of investors during the past decade "has probably been the worst in this century -and perhaps the worst in stock market history." Worse than the 1930s? Yes, says Bernstein, when inflation is cranked in. Ninety cents invested in Dow Jones...
...friends claimed he was just a wealthy real estate investor who was harassed by overzealous, even jealous white authorities. Police contended he was the biggest heroin dealer in New York City, maybe in the country. To blacks in his old Harlem neighborhood, Leroy ("Nicky") Barnes, 45, was a legend of defiance and success. What he had he flaunted, and he had a great deal: 300 custom-tailored suits, a string of glamourous women and powerful friends in show business and politics. He drove two Citroën-Maseratis and four Mercedes. Ghetto kids, said a black police detective, "think...