Word: procter
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...under attack for being too richly priced relative to their earnings and other benchmarks of value. And they got that way, in large part, precisely because they belong to the most popular index and simply got floated higher and higher on a tide of investor cash. Just this week Procter & Gamble, a charter member of the S&P 500, announced that it could not meet its growth targets. Coca-Cola too has stumbled on slower overseas growth. And the computerized "sell programs" have made the Generals ride a roller coaster of late...
Other companies that took major hits were transportation stocks whose business involves trade and travel: the parent companies of such airlines as American, United and Delta. Companies like Coca-Cola, Procter & Gamble and Gillette, which not long ago were praised for their successful penetration of global markets, last week were punished harshly through stock sell-offs. General Electric, the world's most valuable public corporation and one of the most admired, fell 22%, losing $68 billion of its market value...
...remain nameless, but it is a software manufacturer located in a suburb of Seattle. (Hint: the Janet Reno fan club has been disbanded.) This company prides itself on being different from other big companies, and it probably is in some ways. (Are there bare feet in the cafeteria at Procter & Gamble?) But maybe it is less different than it thinks...
...then there's Bankers Trust, which introduced the world to derivatives surprises in 1994. Procter & Gamble sued the bank after absorbing losses of about $150 million on a blown deal, accusing Bankers Trust of misleading it on the risks. The bank agreed to a costly settlement. Now it may face other nasty surprises from Asia. According to SEC filings, the bank has some $5 billion of gross-credit exposure in derivatives to clients that aren't investment grade...
...range of products from Hold-Up Suspenders to hearing-aid batteries. "By the end of '98," predicts marketing professor Mohan Sawhney of Northwestern University, "you'll begin to see far more targeted commerce." Sites that are community centered, he says, will eventually attract clients "that will be the Procter & Gambles of the world." In some cases that is already happening. Last summer Mary Furlong, the founder of the nonprofit Senior Net educational centers, created the definitely-for-profit Third Age and thinks of it as "my grandmother's front porch," a place where people gather to hear news and swap...