Word: masons
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...aspire to improve their golf score, Kerkorian keeps thinking big and shows no signs of slowing down, not when it comes to driving, investing or his favorite sport, tennis, which he plays most weekends, still packing a powerful forehand. "He's a real competitor" on the court, says George Mason, a longtime business colleague and tennis...
...nearly a 9% stake, which would make Kerkorian one of GM's largest and most potentially nettlesome stockholders. Why GM, and why now? Just a couple of months ago, when a friend broached the idea, the billionaire brushed it off. "He said, 'They have a lot of problems,'" recalls Mason. GM stock has been a dud, and despite popping 18% after Tracinda announced its stake, the company received a major blow last week when Standard & Poor's downgraded GM's credit rating to junk (along with Ford's). "Kirk thinks it's a strong company, with strong cash flow...
...DIED. MASON ADAMS, 86, veteran character actor; in New York City. Though millions knew the longtime radio soap star for his distinctly paternal, honeyed voice on countless commercials ("With a name like Smucker's, it has to be good"), he showed his face most memorably as the level-headed managing editor on CBS's late-'70s series Lou Grant...
While chip sales were sinking, U.S. firms continued to lose ground to the Japanese. Rather than cutting back production, such companies as Hitachi and Toshiba persisted in selling at falling prices to boost their market share. "The Japanese don't throw in the towel on the downturns," says Lane Mason, an analyst for Dataquest, which studies electronics firms. "They are willing to suffer a little more red ink in the short term to achieve their long-term goals...
...that we are swapping equity for massive amounts of debt. Some of these highly leveraged companies could find it difficult somewhere down the line." A few analysts think they see the kind of borrowing-and-buying frenzy that could cause a serious plunge in the next few years. Says Mason Sexton, president of Wall Street's Harmonic Research: "The sign is going to be the proverbial speculative fever that makes cab drivers rich...