Word: stockings
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Dates: during 1980-1989
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Executives at the Monsanto chemical company must have watched the stock-market opening last week with unusual trepidation. For good reason: after the market closed the previous Friday, a federal court jury in St. Paul awarded $8.75 million to a woman hurt by a Copper-7 intrauterine contraceptive device manufactured by G.D. Searle, a Monsanto subsidiary. The penalty raised a question: Could Monsanto go the way of A.H. Robins, which was forced into bankruptcy proceedings because of lawsuits generated by its Dalkon Shield...
...Wild horses couldn't drag me back into stocks. Rather than gamble in this market, I might as well go to Las Vegas." So says Curtis Beusman, owner of a sports-medicine clinic in Mount Kisco, N.Y., and he is not talking theory. During the past several years, Beusman has dumped $300,000 worth of stock, more than 80% of his holdings. He is far from alone. Eleven months after last year's crash, most individual investors are avoiding stocks as if they were poison. Some Wall Street executives fear that many of these investors may be leaving the market...
...volatility in the past year, intensified by program trading, these investors fear getting caught up in avalanches beyond their control. At the same time, rising interest rates are attracting them to secure, fixed-income investments, typically bank certificates of deposit and Treasury bonds. The small-timers' absence from the stock market is dampening the averages and reducing business for brokerage houses. To win them back, both the markets and the brokerage industry have launched campaigns to reassure investors that Wall Street is solid and equitable...
...these moves have failed to be persuasive. As of January, individual investors accounted for only 23% of all trades on the New York Stock Exchange, down from 29% last October and 50% in 1970. On some days their participation drops as low as 10%. The rest consists of transactions carried out for institutional investors, including brokerage houses trading for their own accounts and pension funds...
Princeton's alumni gave about $1 million less than expected, in part because of last October's stock market crash, Spies said. But while he said that the crash certainly had played a major role in causing the university's deficit, he was not sure what effects the crash had on the budget...