Word: morgan
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...trade deficits. Despite a dramatic slowdown in growth, they have been looking on the economy's bright side. "Investors now believe the Federal Reserve Board can deliver a 'soft landing' of subdued inflation by year-end, without a recession," says Byron Wien, chief domestic strategist for the investment firm Morgan Stanley, who since May has been predicting a new all-time high on the Dow. Elaine Garzarelli, a portfolio manager at Shearson Lehman Hutton, who was one of the few forecasters to warn of the crash in 1987, believes the Dow will top 3000 before the end of the year...
Another reason for nervousness right now is the too-good-to-last superstition. "This could be the eighth up year in a row," says Morgan Stanley's Byron Wien. "That's never happened in this century." During this bull cycle, U.S. stocks have produced a compounded 17% annual return, almost twice their historic 9% average. Even during the crash year of 1987, the Dow managed to rise...
Plastic surgeon Elizabeth Morgan, 41, has committed no crime. Yet for almost two years she has been in prison. Reason: she refuses to permit her six-year- old daughter Hilary to visit the child's father, Eric Foretich, 46, who she alleges raped Hilary during previous visits. Judge Herbert Dixon sent Morgan to prison for contempt when she refused to reveal Hilary's whereabouts. Relief may be on the way: prompted by the Morgan case, the House of Representatives last week passed a bill to limit civil contempt-of-court sentences to twelve months. Based on the idea that...
Rose made himself the star of the team and, in company with Joe Morgan, Johnny Bench and Tony Perez, turned the mid-'70s into a golden age. Their habit was to rag each other and everyone else at the batting cage, a merciless system that worked for them but ruined some humbler talents. If a wittier but lesser player tried to hold his own, they would trumpet their salaries in unison. It was another way of keeping score...
...Warner merger agreement as "a defensive device, pure and simple. From the standpoint of Time shareholders," the company said, "we don't see how it begins to compare with our offer of $175 a share in cash for all shares." Declared Paramount's principal investment banker, Robert Greenhill of Morgan Stanley: "We consider this a very weak response." Paramount repeated an earlier offer to negotiate a higher price, and declared, "We will continue our efforts to acquire Time Inc. with firm determination...