Word: investors
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Dates: during 1980-1989
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...Pillsbury still looks appetizing to one investor. Last week Britain's Grand Metropolitan, a brewing and restaurant giant (1987 revenues: $10 billion), made a surprise $5.2 billion takeover bid for the Doughboy's company. Pillsbury is resisting the offer, but at $60 a share, it may be too good for stockholders to refuse. The bid sent Pillsbury stock, which had traded at less than $40, soaring...
...heading for a fall last year when he bought huge blocks of stock, including a 10% stake in Texaco. The crash cut his personal fortune from an estimated $1.1 billion in mid-1987 to $400 million now. Lately, instead of stalking giant corporations on several continents, the Perth-based investor has been making far more modest acquisitions, such as sheep ranches, land for an industrial park and paintings for his private collection...
...with satellite dishes. About 70% of those homes are in rural areas not wired for cable TV. Programming includes crop and livestock reports, country-music videos, a polka-music show and a smattering of old western movies. Patrick Gottsch, a former satellite-dish salesman who raised $4 million from investors to start RFD-TV, thinks the channel can attract enough advertising to turn a profit in its first year. Says investor Jim Harker of Omaha: "Nobody else is hitting the agricultural market. We're stepping into a vacuum...
...issue has not yet been discussed at otheruniversities, officials said this week. But manyexperts say that investor responsibility questionswill become more prevalent in the next few years...
Despite the slump in small-investor trading, individual shareholders still control the majority of stock listed in the U.S. But they have sold off more stocks than they have bought during 16 of the past 17 years, while institutions have been net buyers. Sindlinger & Co., a research firm, estimates that only 3.7% of all U.S. stock-owning households have immediate plans to buy more shares, down from 35% near the peak of last year's bull market...