Word: jumbo
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...platform from which he could preach the virtues of the stock market and show the country that the small investor could get a fair shake on Wall Street. "Demystification had been the key to [my father's] great success," James Merrill later wrote in his memoir. "No more mumbo-jumbo from Harvard men in paneled rooms; let the stock market's workings henceforth be intelligible even to the small investor." To that end, the firm published an endless stream of reports, magazines, pamphlets--11 million pieces in 1955 alone--with titles like How to Invest. Under Merrill the firm gave...
Trippe said he would buy 25 airplanes. The price: $450 million, in those days big money. It wasn't yet called the jumbo (the Brits, I'm happy to say, came up with that...
...time to refinance? That depends on the mortgage rate you're paying and the length of time you think you'll stay in your home. If you'll be moving soon, forget it. And if you'll need a "jumbo" mortgage (a loan amount higher than $227,150), rates may not have moved low enough. Today, a 30-year fixed jumbo rate is about 7.25%, vs. only 6.75% for smaller mortgages. (I'm not convinced, by the way, that risks to lenders warrant that kind of premium. And with home values rising, the all-powerful, government-supported mortgage buyers, Fannie...
...customers with premium video and gambling screens at their seats, touting "an unprecedented degree of freedom and choice." But for the passengers of Flight 111, that in-seat entertainment center may have been a deadly luxury. Last week Swissair announced it was shutting down the system on its 18 jumbo jets after Canadian investigators dredged up evidence of suspicious heat damage near the unit on the Geneva-bound MD-11 that crashed off the Nova Scotia coast Sept. 2, killing all 229 people aboard. The airline said the step was precautionary and no cause for the crash has been determined...
...perspire when you read the stories about the recklessness of the hedge-fund managers at Long Term Capital? Did you check out the mumbo jumbo in the prospectus of your mutual fund to see if it might be using your nest egg as collateral to borrow millions to bet on, say, the 49ers game? Relax. The securities regulators are better than you think. They worry more about you than about the folks who invested in Long Term--the sort who can drop $10 million without having to sell their jets...