Word: ipos
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Foley's Wall Street winning streak places him in a charmed circle of investors who are cashing in on today's supercharged IPO market. Buoyed by low interest rates that spur investors to seek higher returns in stocks, American companies are raising record amounts of capital that should make 1993 the biggest year ever for IPOs. So far, more than $20 billion has been raised in IPOs this year...
...share on July 13, and by the end of the day was selling at more than $29. Back Yard Burgers, a fast-food chain based in Memphis, Tennessee, offered itself at $6 a share and shot up the next day to $10.25. On average, the price of IPO shares jumps more than 15% in the 24 hours after they are issued...
These conditions Mao proceeded to create. In late 1952 Communist Minister of Finance Po Ipo publicly admitted that the Reds had liquidated 2,000,000 "bandits" in the preceding three years. Some Western experts calculate that 14 million Chinese were executed during the land-reform campaign of 1951 alone...
...first clear confession was made by Vice Premier Li Hsien-nien, who reported that because of "a decline in revenue from the agricultural tax," Red China last year suffered its first budget deficit-about $750 million. Next came Vice Premier Po Ipo, with the bad news that the 1956 crop failure, not only the worst since the Reds took over but the "worst in decades" (TIME, May 13), had gummed up Mao's entire industrialization program...
...Communists in 1950, and many Western observers, otherwise unsympathetic to the Communists, hastily acknowledged the Communist achievement-too hastily. Last week Chinese Communists admitted that not only is corruption widespread in Red China, but that it has infected tens of thousands of supposedly hard-core party members. Reported Po Ipo, head of a kind of a Communist Kefauver committee called the Austerity Inspection Committee: "More than 1,670 corrupt persons have been exposed in 27 government agencies." Identified as top grafters: Communications Chief Chang Wen-en, Secret Police Chief Sung Te-kuei, Tientsin's Party Regional Headquarters Chief Chang...