Word: stockings
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Dates: during 1980-1989
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Judy VanIngen, like many Cambridge residents who live in one of the city's 17,000 rent-controlled apartments, puts little stock in claims that Proposition 1-2-3 is designed for her benefit...
...current tax system discriminates against capital gains in one way: it ignores inflation. If a stock has doubled during a time when the general price level has also doubled, the real profit is zero, but you'll pay a capital- gains tax anyway when you sell. Of course, the same is true of interest -- an 8% return on a money-market fund at a time of 5% inflation is really only 3% -- but no one is proposing to do anything about that. Furthermore, no one is proposing to limit the deduction for interest paid. In a world with no taxes...
...Britain's Jaguar as the car of choice in the upscale market. Last week Ford declared that it may bid to buy Jaguar when the British government's restrictions on individual stakes in the firm expire at the end of next year. Ford currently controls 13% of Jaguar's stock...
...stock market gyrated in recent weeks, the swings have been fueled by the widespread use of program trading. In this computerized practice, speculators trade stocks and stock-index futures simultaneously to profit from minute differences in prices. But program trading incited a Wall Street revolt last week as the Dow Jones industrial average plunged 92.42 points to 2596.72. Faced with pressure from investors, the firms Bear, Stearns and Morgan Stanley said they will halt the use of index arbitrage, the most popular form of the | strategy. A third firm, PaineWebber, scrapped all forms of program trading...
...moves came after two institutional investors, Keystone Group and Kemper Financial Services, said they will stop doing business with brokerages that use index arbitrage. At week's end the New York Stock Exchange said it will consider ways to tighten the rules governing program trading. Said Richard Grasso, the exchange president: "As a marketplace that has almost 47 million individual investors, we have got to be concerned about anything that might be harmful to those constituents...