Word: mutuals
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Dates: during 1980-1989
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...difficulties are real enough. It is a myth much advertised in the West, for example, that the vast majority of Japanese workers enjoy lifetime employment, a fondly cooperative relationship with management and a mutual delight in the company song. True, there is less than 3% unemployment. But, in fact, Japan has a schizophrenic business system, a dual economy. The myth applies to 30% of it, in the high-tech and highly productive companies. But the other 70% of Japanese workers labor in smaller, considerably less efficient industries. There, they receive low wages and few financial benefits, if any. Such workers...
...Second Mouse, a psychology student, had learned to categorize all aspects of human behavior and was qualified to counsel. But many of her judgements struck me as superficial and off-the-mark. While listening to one outlandish analysis after another of mutual friends and acquaintainces, whose innocuous behavior she ascribed to twisted motives and deep-hidden Freudian urges. I kept in mind the fact that she herself had remained with an abusive husband for eight years. On top of it all, at 30 years of age, she was a veritable social cripple, self-conscious to the point of timidity...
Moving into mutual funds...
...going to negotiate a billion-dollar deal on the telephone." Thus the executives met face-to-face in New York City last week and sealed the deal in a final 4½-hour discussion. American Express will buy one of the nation's major marketers of mutual funds and life insurance for a hefty $1.01 billion in stock...
...credit cards and traveler's-check business, the company already owns Shearson, a leading Wall Street securities firm; Fireman's Fund, a large insurance company; and the non-U.S. banking subsidiaries of Switzerland's Trade Development Bank. The deal puts American Express back into the mutual-fund market, which it left in 1975. IDS is one of the top ten American managers of mutual stock-and money-market funds. It runs 14 pools with total assets of $9.6 billion, manages pension portfolios worth $4.1 billion, and underwrites and sells life insurance and annuities...