Word: pension
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Bank America Corp. and other bank holding corporations began to create small business investment companies to fund new ventures. Lured by the potential profits, large corporations, including Exxon, General Electric and Texaco, also started setting up venture capital subsidiaries. In addition, pension funds, insurance companies and universities with large endowment funds began looking for new companies as a way of earning a higher return on their pools of cash. Big banks, corporations and other institutions now provide 83% of all the grub stakes for new firms. The venture capital firms owned by families still seek out the riskier startups, while...
...industry has jumped from a mere handful of warehouses to more than 3,500 buildings, many of them in the fast growing Sunbelt. Though 85% of all mini-warehouses are still little more than mom-and-pop operations, often owned and managed by retired couples seeking to supplement their pension income, big money is now moving...
...mostly in the Sunbelt. Shearson Loeb Rhoades is helping to finance the growth of rival Colonial Storage Group of Odessa, Texas, which was founded in 1969 and now has 81 facilities in operation. Meanwhile, Merrill Lynch has also entered the field, with a $15 million miniwarehouse investment program for pension funds...
Management did not vield on two major union demands. First, the proceeds of a 15-per-cent surcharge added to all bulls at the Club will still go only to the Club--not to the union membership. Tipping will remain prohibited. And pension benefits--which give most workers $4 per month for each year worked at the Club--will remain unchanged...
...last week the government unveiled a plan to aid small and medium-size businesses with up to $3 billion in low-interest, state-backed loans. At the same time, the state is encouraging the hiring of young and unskilled workers by exempting employers from paying half of their pension contribution...