Word: mutuals
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...with GTE, a $52 billion company with some 21 million widely scattered customers. Earlier in the week AT&T had announced a multibillion-dollar joint venture with British Telecom. Driven by a violent reworking of the competitive and technological landscape, phone giants were embracing one another mostly out of mutual fear and defensiveness...
...relative off the roster is ROB ZOMBIE, pictured below. Two weeks ago, members of KoRn claimed they kicked Zombie off the tour for, among other transgressions, "not exemplifying the community spirit of the trek." They replaced him with German band Rammstein, with whom they share "a great mutual love and respect." Last week Zombie fired back, saying he quit the tour because he was being prevented from staging the elaborate show he'd planned. Don't wait for a Family Reunion tour...
Siouxsie and Cale worked together almost flawlessly; making no attempt to upstage each other. While a battle of egos can be expected when two stars try to share the same patch of sky, this performance showed that a working union between two musicians who hold mutual respect for each other. While Siouxsie had more fans than Cale, the latter musician was given the chance to open the show. While Siouxsie's band gladly played for Cale, he returned the favor by joining them for most of Siouxsie's sets. And while Siouxsie spent her solos in the spotlight, Cale seemed...
...YORK: In these bullish days of the mutual-fund-fueled stock market, the Dow's daily behavior is rarely evidence of anything other than herd psychology -- even Tuesday's staggering slide of almost 300 points. But this time, take notice: It's Wall Street's way of saying that a recession may be on the way. "Recessions are hard to spot -- you don't know you're in one until it's half over," says TIME Wall Street columnist Daniel Kadlec. "But the market usually sees it first and declines ahead...
With the market hitting choppy water, some mutual funds are trying a balancing act. Firms like Barr Rosenberg and Euclid Advisers have launched market-neutral funds, which bet equal amounts of a portfolio on stocks to rise and fall. The funds are touted as a low-risk investment, but the high fees and taxes--and relatively low returns--extract a high price for security...