Word: smalling
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Dates: during 1970-1979
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...minimum stakes are so hefty that trading used to be done only by rich people, corporations and institutions looking to park their idle cash. This discrimination has been ended by the swelling number of money funds that have been formed by mutual fund companies and brokerage firms to pool small investors' assets. Since the returns rise along with surging interest rates-and the highest bank prime lending rate rose to 15¼% last week-money market funds are booming. About 75 such funds now handle nearly $40 billion in assets, way up from $11 billion in January and only...
These versatile machines are "personal computers" made by Apple Computer of Cupertino, Calif. In just four years, Apple has captured about 20% of the growing market for these relatively cheap (about $1,000) machines, which are designed primarily for small business and professional users. Sales in this new and rapidly evolving market will hit $300 million in 1979 and are growing at 45% annually...
Apple is the fruit of Jobs and another college dropout, Stephen Wozniak, 26, both of whom had worked for West Coast electronics firms. In 1976 they sold a Volkswagen Micro Bus and a calculator to scrape together $1,300 to build a small computer in Jobs' garage. It took them six months to design the prototype, 40 hours to build it from scrounged parts, and no time at all to sell it to a retail computer store in California. Says Jobs: ''To our amazement, the store ordered 50.''The Apple Computer-so christened by Jobs...
...scraped up a little money by buying small lots in Gulfport, Miss. Then he went to New Orleans, the main chance. While the International Trade Mart was under construction, he marched up all 26 stories to the top. "That walk up was the toughest work I ever did. Rough." He looked out and spotted the site where Canal Place is rising today. He determined to rebuild, the scruffy riverfront. Canizaro...
...Italian." He put a $5,000 deposit on a downtown plot, then tried to borrow more to buy it. "There was enough income coming in from the property to service the debt if only somebody would lend me the money." The Establishment would not. Finally, he found a small bank to make the loan, and he started prospering. Canizaro...