Chief executive officers of nine Baltimore area businesses -- leaders of local firms whose stocks you may freely buy and sell -- are listed and photographed in the latest Business Week special bonus issue, "1990 Corporate Elite," (undated, $3.95). We list their names herewith, in no special order, with 1989 salaries and bonuses combined, plus selected quotations:
Mathias DeVito, The Rouse Co., $919,000. ("He is still buying land, hoping for a development rebound.")
Jack Moseley, USF&G, $1,180,000. ("Trying to hold up profit and boost dividend.")
H. Furlong Baldwin, Mercantile Bankshares, $872,000. ("Likes to hunt birds and banks.")
George Collins, T. Rowe Price & Assoc., $765,000. ("Competitive, former baseball semipro catcher, pushing more global funds.")
Charles McCormick Jr., McCormick & Co., $869,000. ("Shook up putt-putt spice company, made it a growth machine.")
Alfred Lerner, MNC Corporation, compensation not available. ("Lost patience and took helm himself after predecessor took early retirement.")
George McGowan, Baltimore Gas & Electric Co., $500,000. ("It's a year to forget but Calvert Cliffs nuclear plant should come back on line this fall.")
Michael Sullivan, Merry-Go-Round Enterprises, $670,000. ("Concept of mall fashion stores still hot; he's in market for acquisitions.")
Israel Cohen, Giant Foods, $1,213,000. ("Started at 12 stocking shelves in father's store. Builds own stores, margins are giant.")
Regarding the 1,000 CEOs: 16 are Smiths, 85 are Johns (but curiously there's no John Smith); only two are women (one is Washington Post's Katherine Graham); one is black (Errol Davis of WPL Holdings); most are married; 916 took undergraduate degrees and more than a third work in the state where they were born. The magazine is worth buying.
LOCAL HONOR ROLL: The Rothschild Co., for institutional funds under management, showed a 9.2 percent decline this year through Sept. 30, vs. a Standard & Poor 500-stock index drop of 11 percent. Since September 1973 inception, Rothschild racked up a 689.3 percent advance vs. S&P 500 gain of 493.1 percent. Firm will send details . . . John Jaeger, Baltimore office, Kidder Peabody, is profiled and photographed in Money magazine, November, under, "Who Are The Country's Top Stock Brokers?" Jaeger has 300 customers, minimum account size is $50,000. His current buys: Americus Trust primes ("safety net that entitles holder to collect stock's dividend and any capital gain up to a pre-set price") for Johnson & Johnson, Bristol-Myers Squibb, Amoco.
NOVEMBER NUGGETS: This month in Wall Street has historically been the year's third best, up an average 1.5 percent over the past 39 years, ahead 25 times, down only 14 . . . A New York investment counselor told me that the average bear market lasts about 18 months, with an average 27 percent drop. From 3,000 last spring, the Dow Jones average is down about 18 percent at midweek . . . A Catonsville gift shop owner called to say, "Our shop has been in a recession for three months now, each of the last few months below last year. I fear for holiday business." . . . A disillusioned Lutherville woman who put her money with a local bank, saying, "Do your best with it" now regrets the hasty move after seeing her $96,000 erode to about $80,000 in six months. The bank put her in mostly high-commission, "high-yield" bond mutual funds.
TAKE YOUR CHOICE: "Buying low means buying when others are selling. Best opportunities come when, as now, selling is the popular strategy." (Dessauer's Journal) . . . "While stocks have been marked down sharply recently, we'd resist the temptation to bargain-hunt." (S&P Outlook) . . . "We're going through a bank liquidity crunch; we're eight percent in stocks, 92 percent cash." (The Zweig Forecast)