Word: stock-market
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...private, he seems more a crackling stand-up monologuist than a sober corporate spokesman, a sort of Rodney Dangerfield who gets all the respect in the world, or George C. Scott's Patton turned happy and unthreatening. "I gotta tell ya," Iacocca told a wined-and-dined gathering of stock-market analysts in Detroit earlier this month, "with our $2.4 billion in profits last year, they gave me a great big bonus. Really, it's almost obscene." (The bonus, to be made public soon, was about $500,000.) Asked at a press conference a few days earlier why he lays...
...Stock-market gamblers are not the only investors nursing wounds from 1984. The value of gold dropped 20%; silver was down 30%. Some antiques, however, kept their burnish. The price of Chinese ceramics rose 6%. One of the best investment bets in 1984 was bonds. The average return for high-quality, long- term corporate certificates, counting price appreciation and assuming that interest was reinvested...
Throughout most of American history, bank failures occurred with dismal regularity, and consumers had no protection from them. Even in the booming 1920s, banks closed at the rate of about 500 a year. The failure rate rose sharply during the four years following the 1929 stock-market crash, when a total of 9,000 banks closed. With the entire financial system in shambles, President Franklin Roosevelt in March 1933 closed all the nation's banks for four days to quell the panic. Institutions declared sound by federal and state officials were reopened, and Congress began writing new banking laws...
...fashionable North Shore. Present: Peter Brant, 31, the handsome, polo-playing stockbroker who was one of Kidder Peabody's top salesmen, and Wall Street Journal Reporter R. Foster Winans, 35, one of the writers of the Journal's "Heard on the Street" column, an influential potpourri of stock-market gossip, tips and analysis. Brant's proposal: that Winans reveal to him the timing, subject and tone of upcoming articles in the Journal, including the "Heard" column. Everyone on Wall Street knows that a positive story in "Heard on the Street" can push a company's stock...
...have to know everything that's going on," Wolfe explains later. "We could be stock-market consultants." In a sense they are, since buyers regulate the flow of merchandise that determines the rise and fall of the fashion index. Wolfe, like more and more buyers from big stores, has his instincts reinforced by computer analyses of past sales. "If we bought 20 furs and sold 20," he says, "then we didn't buy enough. If we bought 20 and sold twelve, we bought too many and the remainder have to go on sale. Fifteen...