Word: profitability
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Dates: during 1980-1989
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...catch its breath." Peter Cohen, a New York City real estate broker and large investor, muses, "Even in the sizzling '60s, it was an article of faith that what goes up must come down. But those who have played by this rule now have left huge amounts of profit on the table. I have sold at a profit, then bought the same stock at a higher price, then sold it again at still a better price several times...
Though most of the $2 trillion rise in equity values has been paper profit, some of it has been cashed in by sellers of stock and has found its way into purchases of houses, cars, jewelry, and college educations for children. In addition, many households have borrowed against their stock holdings. The more important effect probably is psychological: people who see the value of their investments rise feel richer and freer to spend. Though the stock market is often thought of as a kind of casino for the rich, an estimated 50 million Americans, or more than a fifth...
...telephone titan, AT&T, was blessed last week with the prospect of a regulatory windfall. The Federal Communications Commission proposed scrapping the system of controlling AT&T's profit margins, which the agency has done for more than two decades as a means of limiting long-distance prices. Instead, the FCC aims to protect consumers by another method: setting price caps, which would freeze long-distance rates at current levels but could adjust them upward to account for inflation and other factors. AT&T rejoiced at the decision, which Wall Street analysts say could allow the company's profits...
...bankruptcy hearing by members of the flock that had supported the $203 million religious empire created by its ousted leaders, Jim and Tammy Bakker. The officials struggled to assure PTL donors that the foundering television- and-theme-park ministry, now about $68 million in debt, might soon turn a profit. Asserted the new PTL chief operating officer, Harry Hargrave: "We will be able to pay our debts. We are very confident of that...
...points at which they will dump a stock to cut their losses or capture their gains. Says Melissa Lamb, 28, a Manhattan real-estate broker who is learning the hard way: "I have picked some good ones, but I just wait and wait in the hope of a bigger profit, until all the profit evaporates...