Word: stockings
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Some investment houses are skeptical that Ben & Jerry's can hold its own in an ice cream war with Pillsbury and Dart & Kraft. But Cohen and Greenfield are trying to win over the doubters in the best way they know. To announce their stock offering last month, they stood on Wall Street in blue jeans and T shirts and handed out free ice cream cones. --By Charles P. Alexander. Reported by Leslie Whitaker/New York
...thus taxing more income at lower rates. The personal exemption will rise from $1,040 to $1,080. The federal income tax for a one-earner couple with two dependents and an adjusted gross income of $33,437 will be $3,501 for 1985 but $3,420 for 1986. STOCK MARKET Amex Puts Out Its Fire...
...stock offering was a spectacular success and an unlikely one. Last week American Express, the $12.9 billion (1984 sales) financial-services conglomerate, sold to the public 54% of Fireman's Fund, its property-and-casualty-insurance subsidiary. Investors snapped up 35.2 million shares for a total of more than $900 million. It represented the country's largest initial public offering ever...
...were investors so eager to buy? The fund earned $20 million for the three months ending Sept. 30. American Express also helped its own cause. When it came to selling the Fireman's stock, its Shearson Lehman Bros. division turned into a high-powered marketing machine. CORPORATIONS "It's Just That Awful Word...
...year. The reductions, which affected 10% of the 1,250-member staff, were designed to help pare $6 million from the division's estimated $225 million budget. Though the savings were part of a company-wide austerity program put into effect after CBS bought back 21% of its own stock for nearly $1 billion last summer, some news personnel felt that Sauter and Joyce should have fought to keep their department immune. Others were upset over how the firings were managed. "People were out at work in the morning, were told to come in, clear out their desks...