Word: marketeers
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Dates: during 1990-1999
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...acrylic that can be rolled or even sprayed onto canvas with the details so fine that even the brush strokes are replicated. Kinkade's studio employs a team of 30 touch-up artists whose sole task is to hand-paint highlights onto the prints, enabling the sales team to market each one as a "unique" work that looks very much like an original...
Money managers call it the doomsday scenario, forseeing an event that could wipe out investor portfolios and wreak havoc on the stock market. The danger stems not from new financial woes erupting abroad but from something happening here. It is the explosive growth in margin debt--loans Americans take out to buy stocks. Margin debt has shot up to $180 billion at midyear, a 25% increase in just six months and by far the most ever recorded. It now accounts for 1.2% of the stock market's total capitalization...
...could margin investing turn cataclysmic? Here's the scenario most feared--and most plausible. The combination of rising interest rates, lofty P/E ratios and some unexpected Y2K problems in the period ahead could jolt the market into a major sell-off. Internet stocks would be most vulnerable, but the damage could spread to other equities as well. If a stock bought on margin falls 30%, the stockbroker typically grabs the phone and utters the dread words "margin call." It means you've lost so much money on the stock you bought with borrowed funds that you have to dig into...
...blame for the surge in margin debt? Aha. Some responsibility goes to Federal Reserve boss Alan Greenspan, who complained as far back as 1996 about the market's "irrational exuberance." Yet it is within his purview to raise margin requirements above the current 50%. However, that might tick off Wall Street, which earns more than 8% interest on margin loans. (Brokers are free to raise requirements on their own, and some have.) No Fed chairman since 1974 has moved to lift the limit. Individual investors--and not just day traders--also share part of the blame. Intoxicated...
SOCKS APPEAL What could be more pedestrian than socks? In an effort to give the $4.7 billion sock market some legs, hosiery manufacturers are putting their jazziest foot forward. From E.G. Smith come Safe Sox, which have pockets, and the Pigalle, a glittery sock with attachable garter. Going for the tattoo look? K. Bell is producing sheer socks with embroidered insects. And Basic Knead has a reflexology sock for those who just have to put their feet...