Word: pension
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Most sexagenarians would have quietly accepted the sinecure, which carried a lifetime annual pension of $100,000. But idleness was inconceivable to the scrappy Ryder, who still does 50 push-ups before breakfast, despises losing a badminton match and has a third wife 27 years his junior. Says he: "I'm sort of a rough person. I like rough things. Concrete, steel, debris, cast-iron pipes. I always liked working, and I just couldn't get used to working for somebody else, I guess...
Both the general public and big Institutional Investors have been active in the market, but large pension funds, insurance companies and mutual funds have been major buyers of the bigger issues. It is harder for the small investor to get ahold of the most exciting stocks because brokers usually give the first shot to their larger clients who will buy 5,000 to 10,000 shares at a time. Federal regulations in 1979 encouraged pension funds to invest part of their huge assets in riskier ventures like new issues, antiques and diamonds; and institutions have soaked up about...
...bill would also allow management to establish productivity standards, bar automatic cost-of-living increases, and end practices attacked by many legislators as wasteful--computing overtime earnings in pension calculations and requiring an extra doorman for every two cars...
...think this is a significant, symbolic gesture on behalf of the working men and women of America." Fitzsimmons had reason to be pleased: the visit gave a rare bit of favorable publicity to the 2.3 million-member union, the target of almost endless accusations of corruption and misuse of pension funds...
...reason for the waves of big-volume trading was that cash-rich institutional investors such as insurance companies, pension funds and mutual funds have lumbered back into the market after months of sitting on their wallets while awaiting the outcome of the presidential race. Says Kenneth Rolland, an executive vice president of New York's Chemical Bank: "People think a Reagan Administration will cut Government spending and institute tax reforms that will stimulate investment and savings. Investors believe that the climate will be very good for financial assets like stocks." Adds Investment Strategist David Bostian of Bostian Research Associates...