Word: stockings
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Dates: during 1980-1989
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...since oil production, real estate and other operations now account for 70% of its sales, the firm would drop the word steel from its name. After considering more than 200 possibilities, including Amcor and USSA, the company decided to call itself USX because its symbol on the New York Stock Exchange is X. In London, BL, the financially struggling government-controlled auto group formerly known as British Leyland, said it hopes to spruce up its image by renaming itself the Rover Group...
...Herbert Haft, 65, and his son Robert, 33, of Washington. As the owners of Dart Group, which runs the Crown Books and Trak Auto chains, the Hafts always seem to be shopping around for a major retailer. In the past two years they have bought large blocks of stock in May Department Stores and two pharmacy chains, Jack Eckerd and Revco. In each case the Hafts' move drove up the price of the stock in the target company, and they sold their shares at hefty profits...
...grocery business, some Wall Streeters think that the raiders once again intend to pass through the express checkout line to a quick profit. They already own 5.9% of Safeway's shares, which they bought earlier this year at an average price of about $42 a share. Since Safeway stock rose last week to $57.25, the Hafts could sell out now for a gain of close to $60 million...
...remove offending magazines. Another chain that has resisted is Dairy Mart convenience stores, with 950 outlets in the East and Midwest. Following a boycott organized by an affiliate of the N.F.D. in April, Dairy Mart conducted a survey of its patrons in four states, asking whether it should stock magazines like Playboy. The result: 55% said yes, 35% no, and the rest had no opinion...
...another era, the selling wave would have signaled a stock-market catastrophe. But, surprisingly, there was nothing akin to a major panic on the floor of the New York Stock Exchange last week, even as the four-year-old bull market took a sudden nose dive and the Dow Jones average of 30 industrial stocks suffered its largest single-day decline in history. Only six days after breaking through the 1900 level for the first time ever, the Dow plunged 61.87 points, to 1839, on the week's opening day. On Tuesday the bears were again on the prowl...