Word: premiums
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...their own shares at a price that reflects each share's equity in the fund's net assets. No seller would offer his shares at a discount in the trading market if he could sell them to the fund "at net." Nor would any buyer pay a premium to purchase shares from a private seller if the funds continued their present practice of offering new shares at a price determined by asset value. Indeed, Justice Department officials expect that mutual fund shares would trade at prices no different from those set under the present system. The only difference...
...brands may yet sell well, but the industry consensus is that light whisky, on the whole, is an idea whose time may never come. "Light whisky has been greeted with a yawn," says Jack Yog-man, president of Joseph E. Seagram, which sells two lights: Galaxy and Four Roses Premium...
...Concorde's profitability. They calculated that the plane gulps two to three times as much fuel per passenger as the 747 jumbo, and that fuel prices would soar as world energy supplies dwindled. Concorde operating costs would be so exorbitant that Pan Am might have to charge a premium of as much as 20% over first-class fares, which are now $888 for a round trip between New York and Paris in the high season. The trip would take four hours, v. seven in a Boeing 747, but Pan Am planners feared that the time savings might...
...dilemma familiar to capitalistic countries: production v. pollution. Soviet managers are paid bonuses for reaching or exceeding official quotas on production. Thus a factory manager will gladly pay a small fine ($60 to $600) for polluting on the way to earning a generous premium ($6,000 to $12,000) for meeting planned goals. Even though the state, not the market, sets prices on goods, Soviet planners and managers are usually reluctant to raise costs of production by employing environmental safeguards...
Even when ransom is recovered, there is some cost to the lines because they usually must borrow the money from banks, which charge premium interest rates on such high-risk loans. One company is in financial difficulty because of ransom payments. Southern Airways gave $2,000,000 in November to Havana-bound hijackers, and the cash has been confiscated by Fidel Castro's government. Southern officials will not comment on how seriously they will be hurt if the money is not given back, but the line's balance sheet provides a clue. As of June 30, the carrier...