Word: investors
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Dates: during 1970-1979
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Besides hammering share prices down, the recession almost destroyed the original and highly essential function of the stock market: that of enabling companies to raise capital. As the Dow Jones industrial average tumbled to a twelve-year low of 578 last December, investors' confidence was so shaken that hardly any companies could hope to raise money by selling newly issued stock. Now, with the Dow back to 855 (up 31 last week) and investor enthusiasm rising, American companies in search of funds are once more finding a market for new shares...
...financial bind has loosened. Despite howls from customers, regulators are permitting bigger rate increases more rapidly. During this year's first quarter, investor-owned utilities won approval for hikes totaling $1 billion a year, almost half as much as they got during all of 1974. Interest rates have come down to about 9.5% on good-quality bond issues by utilities and even less on their bank loans. Power demand is rising again, though it is only 2% ahead of last year's rate. A group of 75 utilities that recorded an aggregate profit increase of only 3% during...
...memo containing the proposals for reform, the ACSR stressed that rules requiring more disclosure would aid in "investor knowledge," and did not address the possibility that required disclosure of information might force corporations to change policy...
Members of the ACSR have said that the SEC is only legally able to implement disclosure reforms because of improved investor information, and that the ACSR memo emphasized this virtue of its proposed reforms...
Boardroom Detente. At length Gelsthorpe concluded that to stop the quarreling "it was imperative that this company bring in somebody not in any way involved in the events of the past months." His opponents agreed, and the board united to choose Booth and Detroit Investor Max M. Fisher, one of United Brands' biggest stockholders, who becomes acting chairman. In private, each faction still disparages the other; yet the rivals are at the same time happy with Booth's selection, because it means that neither side...