Word: wealth
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Dates: during 1980-1989
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Private savings accumulate in banks and provide funds, or capital, for investment and economic growth; future benefits do not. As a result, Feldstein has estimated--first in a 1974 paper--that social security had reduced the accumulated wealth of the nation by as much as 38 percent...
...need a redistribution of wealth," said Kemp, who has been tapped as a potential presidential candidate in 1988. "We need more wealth...
Still, the mergers prompted by Pickens and other raiders have their beneficial side. Writes the President's Council of Economic Advisers in its latest annual report: "The available evidence is that mergers and acquisitions increase national wealth. They improve efficiency, transfer scarce resources to higher valued uses and stimulate effective corporate management." Perhaps the most important result is that Pickens and his fellow raiders have served notice on the leaders of American firms. If they do not manage their companies skillfully, they could find themselves in the middle of a takeover fight with the gambler from Amarillo, or someone like...
Pickens pursues health with the same single-mindedness that he brings to chasing wealth. The $2 million T. Boone Pickens Fitness Center at Mesa headquarters is an exercise buff's delight. In addition to four glass-walled racquetball courts, it offers a gym, indoor running track, a weight room and marbled showers and whirlpool. Pickens works out daily when he is in Amarillo, and his name is usually at the top of the center's racquetball tournament ladder. His prowess is on sculptured display outside the courts in the form of a life-size bronze statue that portrays a crouching...
...fast-talking, blunt-speaking man with a boyish face and ready grin, Jacobs wears his wealth casually. He sometimes answers his own phone and regularly drives himself to work from his home in the stylish Minneapolis suburb of Wayzata in a Rolls-Royce Silver Shadow II. He makes no claims to being a great long-range corporate planner, even to the point of refusing to keep an appointment calendar. Jacobs is a person of instinct and action. Says he: "You can't predict what I'm going to do next because there is no track, no character...