Word: stocke
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Dates: during 1990-1999
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...single day's trading in February, American Greetings, the nation's largest publicly owned greeting-card company, with $2 billion in annual revenues, lost $800 million in market value, tumbling 33%, to $23.25, after warning investors that dumping excess inventory would hurt near-term profits. Gibson Greetings' stock is limping along below $9, down from above $29 last year. (Industry leader Hallmark, with $3.9 billion in sales, is private.) Says American Greetings CEO Morry Weiss: "When you disappoint people, confidence will take a while to come back...
...Xerox, now offer these plans, which cover close to 10 million workers nationwide. Two weeks ago giant Citigroup disclosed that it too is making the changeover; the week before, CBS made the switch as part of a comprehensive benefits overhaul. Both firms are sweetening the pot with stock options to keep workers focused on performance rather than longevity. IBM is reportedly contemplating a similar change that would save $200 million a year...
...says it is likely to be in on the deal, believes the company can be floated, pointing out that BearStearns found a way to take Playboy public: "History has shown that Wall Street has raised money for adult companies," he says. Fidelity and Warburg Pincus hold blocks of Playboy stock, while BearStearns and T. Rowe Price own positions in Spice Entertainment, another adult-media company...
...know the Internet is cool, fun and convenient--and fast becoming indispensable. What we don't know is whether Internet companies are worth the stratospheric prices they command in the stock market. That's the big risk you take in owning high flyers such as eBay and iVillage. Sure, they keep going up. But with little or no earnings, it's tough to gauge their ultimate value--and, possibly, not since William Henry Seward paid the Russians 2[cents] an acre for Alaska has a population (Internet junkies, in this case) been so thoroughly taken to the cleaners...
...drama, but they did yesterday when Eckhard Pfeiffer and Earl Mason, the number one and number two at Compaq Computer Corporation, handed in their resignations. The news came a little more than a week after Compaq announced massive shortfalls in revenues and earnings, and Wall Street hammered Compaq's stock accordingly. In a year when personal computers are ever more vital accessories, when even underdog Apple is making a killing, why can't the world's largest PC manufacturer make money...