Word: stocke
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Dates: during 1990-1999
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Olivetti, a failed Italian typewriter maker reincarnated as a communications firm, stuns Europe's stock markets with a dramatic, $65 billion offer to take over Telecom Italia, a telephone behemoth seven times its size. A cozy merger between Societe Generale and Paribas, two of France's leading banks, is thrown into disarray when a rival Paris financial house proposes to swallow them both. A battle for control of Italian fashion giant Gucci turns venomous when a French billionaire proclaims that he has snatched the company from the clutches of a rival French raider...
...have paraded through the Yard in recent years. The conventional wisdom is that Greenspan will not--in fact, cannot--say anything of import, because if he did, it would cause significant shocks to the world economy. In a now-famous incident in 1996, Greenspan commented that gains in the stock market at the time might have been caused by "irrational exuberance." In response to his skeptical comments, markets around the world tumbled...
Since then, Greenspan appears to have learned his lesson, perhaps too well. In a hearing before the Senate Budget Committee in January, Greenspan was asked, among other things, about the soaring value of Internet stocks. His comments were so ambiguous that the major newspapers didn't know what to think. Headlines the next morning ranged from "Frenzy for Internet Stocks Gains Backer--Greenspan" (Washington Post) to "Fed Head Warns Against 'Net-Stock Hype" (New York Post) to "Asked About Internet Issues, The Fed Chairman Shrugs" (New York Times). Of course, all the major stock market indexes showed sharp gains that...
...apartment in which he'd been living since 1987. Anthony, who worked for Penthouse's parent company until 1997, claims his Manhattan loft was a gift from his father for graduating from Harvard and joining the family business. But a judge backed Guccione the elder, saying the apartment's stock certificate had never been transferred to Anthony and he had no legal claim to it. Looks as if Guccione pere, who is also estranged from his other son, Bob Jr., will be spending Father's Day alone this year...
...years, the rap on American managers has been that they're short-term thinkers, cowed by Wall Street--the nerve!--to make the quarterly number or see their stock price sacrificed to the earnings gods. What this country really needed, said the pundits and business professors, was a group of CEOs who had the guts to go long. Now, at (long) last, a new generation of managers, like Jeff Bezos of Amazon and Tim Koogle of Yahoo, Steve Case of America Online and Tom Jermoluk from @Home, has emerged to do exactly that, through aggressive acquisition strategies, massive infrastructure spending...