Word: pensioned
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Dates: during 1970-1979
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...market's long fall. In a sense the decline has hit harder than that of the Great Depression: only about 1,500,000 Americans owned shares then, compared with 31 million now. All together, 100 million Americans have some stake in the market through their holdings in pension funds, profit-sharing funds, variable annuities and endowment trusts. Even people who do not have such interests have been damaged. The stock drop has affected the psychological climate ?and thus the spending plans?of all kinds of businesses. Moreover, as stockholders have felt the pinch, the decline has brought hard times...
...problems that Stein and others deplore have been caused at least partially by the rise of the mutual funds and other institutional investors. The funds have grown from almost nothing before World War II to $39 billion in assets today. The mutual funds rank right after the pension funds as the biggest institutional shareholders. Though brokers derive some income from selling mutual fund shares, the funds nevertheless represent a threat not only to brokerage houses but also to savings banks and savings and loan associations. All are competing for the dollars that Americans have to invest or save. The institutions...
...participants in the murder, as Z suggests, they have nonetheless provided some intriguing postscripts to the trial that would be worthy of inclusion in the film. They reinstated and promoted the six police officers who had been sacked for their part in the murder and then retired them on pension...
Delicate Positions. Salomon Bros, began as a bond trading house in 1910 and later diversified into other activities. Last year it traded some $135 billion worth of bonds-an average of $530 million every working day. The bear market caused many pension funds and trust departments to dump bonds, but Salomon was able to find enough mutual funds, other banks and individuals to buy them...
Salomon Bros.' most spectacular specialty is "positioning," the delicate art of arranging the sale and purchase of exceptionally large blocks of stock. In such a transaction, Salomon usually buys a block of stock from one or more institutions-mutual funds, pension funds, banks or insurance companies-and sells it to another institution or group of them. With $65 million in capital and great borrowing power, Salomon can buy almost any block of stock offered...