Word: pension
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...back in 1932, Adolf A. Berle and Gardiner C. Means showed in The Modern Corporation and Private Property that one can control a corporation by controlling even a minority of its shares. Hence it is no surprise that today's institutional investors-bank trust departments, pension funds, insurance companies and the like-exert great influence over companies and securities markets. Just how concentrated, however, is such influence? In 1975 Congress ordered the SEC and other regulatory bodies to supply it with new information on who owns what. Armies of lawyers descended upon the capital, arguing that such disclosure would...
...sources. It amounts to a lot of stupid dirty jokes among a group of men who demonstrate not a single redeeming, or even contrasting characteristic. An exception might be Charles Durning playing a weary, overweight cop fighting to keep a rebellious tongue in check until he can collect his pension...
Once there were these three Irishmen. Brian O'Nolan joined the civil service as a young fellow and retired 18 years later with a small pension and a sharp tongue. Before he was 30, Flann O'Brien had published a novel (At Swim-Two-Birds) that won praise from no less a boyo than Jimmy Joyce. Myles na Gopaleen took up writing the odd play now and then but spent close to 25 years doing funny pieces for the newspapers. Now here's a strange thing. All three of these lads died at the same instant...
...fought to keep her students with her for two years in a row in order to drill them thoroughly in spelling and grammar, other teachers tagged her a rebel and sent her anonymous hate letters. Collins finally quit in frustration and, using the money she had contributed to the pension fund (about $5,000), opened Westside in 1975 in one room of her family's brownstone...
...result, small investors have pulled out of the market by the millions to put their money into bonds, land, coins, wine-anything that is either tangible or seems less risky than shares. Trading consists mostly of transactions between the big institutions: mutual funds, pension funds, bank trust departments. And managers of the pension funds, who invest more than $100 billion, have a special reason for worry: Congress in 1974 passed a law permitting receivers of pensions to sue managers of the funds for poor investment performance. Fearful fund managers have adopted a supercautious strategy, setting themselves the modest goal...