Word: ponting
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Indeed, the big buying action on Wall Street these days is in the stocks of sound, old-line companies like Exxon, Bethlehem Steel and Du Pont. Such glamour stocks as Xerox, IBM and Eastman Kodak are still going down, partly because there is no shortage of copiers, computers or cameras. Also, many of the former highflyers pay small dividends or none at all. The standard industrial companies often pay dividends equaling 5% to 6% of the price of their stocks and so are better able to compete against other investments in an era of still lofty interest rates...
...been going into land development or construction, or simply buying land and holding it for price appreciation. Chrysler Corp., for instance, has invested $89 million in diversified real estate ventures. General Electric has shifted 15% of its $3 billion pension fund into real estate. Other big players: ITT, Du Pont and U.S. Steel...
Corfam's trade name now belongs to George Newman & Co., of Boston (estimated 1972 sales: $12 million), a wholesaler of the product in the Du Pont days, which bought a license to use the name and unsold inventory for $6,000,000. President George Newman, 33, reports that he has sold most of the huge stock of Corfam "poromeric" (from porous) leather that he bought from Du Pont and began producing NewmanCorfam in his firm's own factory last January. Though Newman has experienced some technical problems, the young Corfam owner claims that he expects to sell...
...long-predicted leather shortage that sparked Du Pont's interest in a leather substitute has finally arrived. Worldwide demand for leather is rising faster than the supply of hides. As a result, prices on some grades of hides have leaped as much as 110%. At the same time, worldwide demand for leather is escalating as living standards rise. "Peasants in Africa now buy new shoes every two years instead of every four," Newman says. "People in Eastern Europe want bright, colorful leather shoes and jackets." Footwear-industry analysts expect leather to drop from...
...Pont officials profess to be undisturbed by the success of their castoff, claiming they did well to dump an expensive failure. Of course, they might feel otherwise if the Corfam shoe were still on their foot...