Word: pension
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...consortium of three Harvard unions last night ratified a new three-year contract providing pay raises and a modified pension plan, after working under a temporary agreement since last spring...
...even as prices fell. Rumors that some bank executives were simultaneously selling their own shares have increased the public's ire. Said one bitter investor, whose banker had persuaded him to keep his stock: "I was patriotic and rescinded my sell order. I lost about 70% of my pension money as a result." The crisis has sparked numerous lawsuits and demands for investigations. "The complicity and duplicity of the banks and the government are something that deserves being looked into," says Joseph Morgenstern, a Tel Aviv financial consultant...
...person working on the project longest is Eastern Europe Bureau Chief John Moody, who has been observing preparations in Sarajevo for months, and is now ensconced there in one of the rooms that will accommodate TIME'S team at the Pension Bob, an aptly named hotel near the Olympic bobsled run. Says Moody: "I'm beginning to feel as much a host here as the natives, saying welcome to newcomers and feeling very much at home...
...buoyant market. Last year nearly 900 companies made initial offerings of stock, raising $12.8 bilion. That is almost nine times more capital than was raised by new firms in 1982 and even more than the amount for all the years since 1971 put together. Mutual funds and pension funds, big institutional buyers and individual shareholders have all anxiously sought to invest in the new firms...
Institutional investors like pension-fund managers showed interest again in the eight new companies. Those stocks had not changed in value much since trading started in November, but they rose smartly last week. The biggest gainer was U S West, which climbed more than 7 points, to 63⅞. The other operating companies also showed handsome increases...