Word: stock-market
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...post its most profitable quarter in nearly a year. Assets of mutual funds -- including risky small-company and junk-bond funds -- grew a record $59 billion in January, and the frenetic pace continued in February. "This is the first popular war since World War II," explains Bill LeFevre, senior stock-market strategist for Tucker Anthony. "You could very well see the consumer celebrate by buying that postponed car, TV or refrigerator. This will go a long way toward turning the recession into recovery." Stocks have accurately forecast seven of the eight recoveries since 1949, while the biggest bull market...
...state rations water as croplands wither. -- Is the recession nearly over? Exuberant stock-market investors seem to think...
...good cheer alive at a time of trouble is part of a long tradition. White House Christmases have often been bittersweet affairs. None was bleaker than the 1963 holiday, observed under the shadow of John F. Kennedy's assassination. Back in 1929, just a few weeks after the stock-market crash, Herbert Hoover's family was having Christmas Eve dinner when fire broke out in the west wing of the White House. As fire trucks clanged, Lou Hoover gathered her grandchildren and read them Christmas stories to calm their fears...
...almost half its LBO debt through a new issue last May. Another technique is the debt-for-equity swap, in which corporations retire their bonds by giving lenders corporate stock. That strategy was employed by furniture maker Interco, which last week announced that it will swap 95% of the stock in the company for $400 million worth of its bonds. But selling equity has become difficult in the bearish stock-market climate, and stockholders in troubled corporations often protest new issues that would dilute the value of their shares...
Since entrepreneur and stock-market speculator Billy Durant first cobbled together a venture he called General Motors in 1908, the company has always been ruled by finance men, numbers wizards and balance-sheet fixers. No one was a better example of this than Roger Smith, a diffident financial virtuoso who led the company during the 1980s. But when Smith retired last July after a decade in which GM lost one-fourth of its U.S. market share, mostly because of weak products, GM's board made history by promoting an engineer to the chairman...