Word: putnam
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...below $1 - sacrilege for an investment meant to be the same as cash. After the Reserve Primary Fund "broke the buck" because of debt it held that was issued by the now-bust investment bank Lehman Brothers, institutional investors scrambled to withdraw their money. Sept. 18 brought additional worries: Putnam Investments said it would be shutting down one of its money market funds, and the ratings agency Moody's warned it might downgrade 13 of Lehman's funds. (Lehman's asset management subsidiary was not part of the bankruptcy; it continues to operate normally.) Other asset managers tripped over themselves...
...problem with the Putnam fund, which was sold only to institutional investors (such as pensions funds and insurance companies), wasn't that it was losing value but rather that so much money was being withdrawn. The fund was going to be forced to dump a big block of its holdings, and flooding the market like that has the effect of driving down security prices - thereby driving down the value of the fund you want to keep at $1 per share. "The investors are almost as important as the investments here," says Peter Crane, money fund expert and CEO of Crane...
...Africa. Corporation members Hugh Calkins ‘49 statement that Harvard’s investment decisions are divorced from moral considerations: President Bok’s conflicting remark that the Corporation had already “decided what is right” by not divesting and Treasurer George Putnam ‘49’s laughter upon hearing of the last have all been publicized, thereby calling attention to the often callous attitude of the Corporation toward students. The fast is reminder that other universities (most recently the University of Michigan), as well as the State of Massachusetts...
...Pasta is all about the food. The open-kitchen, situated directly behind the food counter, is the focal point of the restaurant. With its pizza ovens and stoves in view, customers can watch the Hoxallaris cook their meals as they dine. With Basta Pasta just a short walk down Putnam St., Matherites ought to be congratulated for winning the housing lottery—but no matter where you live, it’s worth the walk. Cozy and relaxed, Basta Pasta delivers surprisingly fine cuisine to the average Joe without any of high-class eatery frills. Don?...
...very much felt that there was an adult in charge after the turmoil of the last five years,” Putnam said...