Word: paper
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Dates: during 1990-1999
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...have done," he said, "I will own up to it." By the end of the week, Burton had owned up to the Indianapolis Star what Indiana political circles had been buzzing about for years: that he had fathered an illegitimate son in the early 1980s. He told the paper he wanted to go public to deflect attention from the boy and his mother...
Smack in the American heartland, far from both Wall Street and Asia, the 15,500 workers of Harnischfeger Industries, based in St. Francis, Wis., got slammed from both directions. A proud world beater that builds mining equipment and huge machines that produce 70% of the world's printing paper, Harnischfeger has just seen its sales to Singapore and other troubled Pacific Rim countries drop from $600 million a year to nearly zero. Its stock, riding high at $44 a year ago, was beaten down to $16 in last week's market rout, gutting the 401(k) retirement plans of many...
...years will cushion the impact of a down market now. "Anyone with brains knows the thing to do is to sit back and wait," says Stephanie Rubin, 52, an executive with a search firm in Chicago who has about $300,000 in stocks. "If it's down 25% on paper, it doesn't bother me because it's money tied up in an IRA account. I'm not going to touch this money till...
...Valuations matter. There are companies behind those pieces of paper we call stocks. If a company's fortunes sink, so eventually will its stock. Beware of any company whose price-earnings multiple is greater than the expected annual growth rate for its earnings over the next few years. For example, Coca-Cola's P/E, even now, is 40; its earnings could rise 15% a year. That's definitely not the real thing...
...broke new nonapology ground when he expressed pre-emptive regret for what a Vanity Fair reporter might have found in some 200 interviews. Burton suddenly remembered he had been separated from his wife three times. The next day his memory was jogged again when he learned that an Indianapolis paper would report that he had had an affair and fathered an illegitimate child. He wouldn't say more because of "everybody's heart being ripped out" and because "enough is enough." Sound familiar...