Word: stockely
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Dates: during 1970-1979
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...Management and Budget, for example, listed six Es and one D under liabilities, reflecting at least $650,000 in debts. His statement also showed that, as of the end of last year, he had more than $100,000 in cash, less than $5,000 in U.S. Savings Bonds and stock in 136 corporations -though whether he owns one share or 100,000 in any of the firms is impossible to determine. Lance reported $300,000 in income, but the sum includes an undisclosed amount of severance pay given him when he left the presidency of the National Bank of Georgia...
...world's largest computer maker (1976 sales: $16 billion) was spotlighted last week when Chairman Frank T. Cary announced that IBM wants to spend $1.1 billion to buy back at least 4 million shares-almost 3% of the total outstanding-at $280 a share. The company's stock closed last week...
...explanation, IBM would say only that "at this time" it regards its own stock as "an attractive investment." On Wall Street, many analysts reckoned that IBM aimed its offer mainly at institutional investors like banks, pension funds and insurance companies. Although trading far below its peak of $365, in 1973, before recession selling hit many flyers, IBM is still treasured by institutions. Indeed, there are more than 1,200 institutional holders of IBM. and together they hold more than 60% of the company's stock-an unusually high percentage. In fact, institutions own more IBM than any other single...
That concentration worries Government officials, who are afraid that institutions that administer pension funds are investing too much money in a few popular stocks. The Employee Retirement Income Security Act, enacted last year, has been interpreted by many institutions as limiting holdings of any one stock to 5% of their portfolios. IBM's move allows institutions overloaded with its stock to sell shares back to the company without depressing the market. Given the fondness of money managers for IBM, some analysts wonder whether the $280 offer will actually persuade many institutions to sell. Still, the offer strikes a balance...
...script: the once respected and feared detective who's fallen on fallen times. Then there's the other angle: the funny lady who actually does ask him to sleuth down her cat. The woman, Margo Sperling, is played by Lily Tomlin. Her character comes straight out of a stock bit she does on television specials and in night-clubs: the astrology nut, pseudo-psychoanalyst and perpetual high-on-lifer all rolled into one. When Welles flashes a rod for the first time in her presence, she cheerfully informs him that "my shrink says that people who play with guns...