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By JULIUS WESTHEIMER | September 26, 2001
HAVE YOU heard of mutual fund "B" shares? Although not well-publicized, they are attractive for long-term mutual fund buyers. "B" shares have no front-end sales charge, or "load," but carry a fee if you redeem shares within a certain number of years," says Mutual Fund Education Alliance newsletter. "This `back-end load' declines every year until it disappears, usually after five years. `B' shares also carry a 12b-1 marketing fee typically higher than the 12b-1 fee of `A' [front-end load]
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BUSINESS
By BLOOMBERG NEWS | May 2, 2006
NEW YORK -- Aramark Corp., the food-service company that runs concessions at Oriole Park at Camden Yards and other sports venues, received a $5.8 billion takeover offer from a group led by its chairman and Goldman Sachs Group Inc. The group, which also includes JPMorgan Chase & Co., Thomas H. Lee Partners LP and Warburg Pincus LLC, bid $32 a share, Aramark said yesterday. That's 14 percent above the Philadelphia company's closing price Friday. The company's shares rose $5.79, or nearly 21 percent, to close at $33.90 on the New York Stock Exchange.
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BUSINESS
By BLOOMBERG NEWS | May 14, 2002
MURRAY HILL, N.J. - Lucent Technologies Inc., the biggest U.S. maker of telephone equipment, set yesterday the distribution of shares in the spinoff of its remaining 58 percent stake in chip-maker Agere Systems Inc. Lucent said it will issue one share of Agere Class A common stock for every 92.768991 shares of Lucent common stock and one Agere Class B common stock for every 3.779818 shares of Lucent common stock. Lucent will distribute the shares June 1 to stockholders of record as of May 3. Both A and B shares of Agere will be distributed to Lucent shareholders as a tax-free dividend.
BUSINESS
By HUMBERTO CRUZ and HUMBERTO CRUZ,TRIBUNE MEDIA SERVICES | January 15, 2006
Time for a quiz. Say you invest $10,000 in The Growth Fund of America, one of the country's most popular stock mutual funds, and the fund returns an average of 8 percent a year compounded before all sales charges and expenses. After 20 years, you will have: (a) $40,780 (b) $40,746 or (c) $39,860? The correct answer is any of the above, depending on which share class of the fund you buy. The answer will be (a) for the "A" shares, (b) for the "B" shares and (c) for the "C" shares. Confused?
BUSINESS
By WERNER RENBERG and WERNER RENBERG,1992, by Werner Renberg | March 22, 1992
If you buy mutual fund shares from a broker, financial planner, insurance agent or a fund's own sales force, you may have to choose between a fund with a front-end sales load and one with a back-end load.Should you pay a fee that can run as high as 8.5 percent when you buy shares (depending on the fund and size of your investment)? Or should you pay a fee that can run to 5 percent or more (depending on the fund and the length of time you owned the shares) when you redeem them?Your choice isn't only between paying now and paying later.
BUSINESS
By CHARLES JAFFE | January 23, 2005
If a major change in direction or course is a "sea change," then the fund world is about to go through something that might best be described as a "B change." Franklin Templeton began phasing out the B share classes on all of its funds this month, and will discontinue B-share sales entirely at the end of February. The move by the nation's fourth-largest fund firm marks the latest assault on an investment type that has come under fire from regulators for playing a central role in cases where rogue investment advisers abused clients.
BUSINESS
By MATT LUBANKO | February 6, 2005
About nine years ago, I invested $20,000 in Merrill Lynch Large Cap Value Fund Class B shares (ticker symbol: MBLVX). Not too long ago, I checked out my monthly statement and noticed they switched to Class A shares. They did this without telling me. When I asked why it was done, my broker gave me an unsatisfactory explanation. Why did this happen? - H.N., Chicago You've probably witnessed a conversion: a time-release changeover from Class B shares to Class A shares. There is nothing sinister about this change.
BUSINESS
By CHARLRS JAFFE | June 10, 2001
CHANCES ARE, you believe an "unsuitable investment" is something that's too risky, speculative, volatile or simply inappropriate for an investor's age and personal circumstances. But sometimes it's not the investment itself that's unsuitable; it's the plain brown wrapper it comes in. In the case of mutual funds, the wrapper is the share class, and a recent action taken by NASD Regulation Inc. against a St. Louis broker highlights a problem that most investors know nothing about: the wrong share class can be just as bad for you as risky, speculative garbage investments.
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | November 1, 2000
The deadline by which Crown Central Petroleum Corp. said it wanted a tender offer from Apex Oil Co. in St. Louis, which has been trying for nearly a year to take over the Baltimore-based refiner, came and went yesterday with no word from either side. The independent directors at Crown, which include the entire board except Crown Chairman Henry A. Rosenberg Jr., asked Apex to make a fully financed, all-cash unconditional tender offer at $10.50 a share after shareholders rejected Crown's bid to merge with Rosemore Inc., a holding company owned by Rosenberg and his family.
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | April 4, 2000
Crown Central Petroleum Corp.'s board of directors won breathing room when one of the bidders for the Baltimore-based refiner removed the expiration date for its offer. Rosemore Inc., a holding company controlled by the family that runs 70-year-old Crown, said its offer will remain on the table until it is rejected. The holding company originally said its offer to pay $8.35 a share for the stock it does not already own would expire March 10. It later moved the deadline to April 17. But in giving its "best and final" offer last week, Rosemore said it would pay $9.35 a share and set Friday as an expiration date.
BUSINESS
By CHARLES JAFFE | August 7, 2005
NEARLY $1 out of every $5 that went into mutual funds last year flowed into funds that charge a sales load, compensating a broker or planner for making the sale. But a new study from the University of Michigan indicates that investors who pay for financial help might want to avoid load funds altogether, because they carry a surprising cost beyond the sales fees. The Michigan study showed that when a mutual fund adds additional share classes -- coming up with new ways for brokers and planners to pitch the product to customers -- performance tends to suffer.
BUSINESS
By ANDREW LECKEY | June 19, 2005
Q. I have used UPS Inc. and FedEx Corp. for deliveries and was wondering which is the better stock investment. Your thoughts? - J.C., via the Internet A. They're in a dogfight and constantly barking up each other's tree. UPS is the world's largest shipping carrier. FedEx is the world's largest express shipping carrier. There's been good and bad news for UPS lately. In an impressive $1.25 billion cash acquisition that is sure to increase competition with FedEx, it is acquiring the "less than truckload" carrier Overnite Corp.
BUSINESS
By MATT LUBANKO | February 6, 2005
About nine years ago, I invested $20,000 in Merrill Lynch Large Cap Value Fund Class B shares (ticker symbol: MBLVX). Not too long ago, I checked out my monthly statement and noticed they switched to Class A shares. They did this without telling me. When I asked why it was done, my broker gave me an unsatisfactory explanation. Why did this happen? - H.N., Chicago You've probably witnessed a conversion: a time-release changeover from Class B shares to Class A shares. There is nothing sinister about this change.
BUSINESS
By CHARLES JAFFE | January 23, 2005
If a major change in direction or course is a "sea change," then the fund world is about to go through something that might best be described as a "B change." Franklin Templeton began phasing out the B share classes on all of its funds this month, and will discontinue B-share sales entirely at the end of February. The move by the nation's fourth-largest fund firm marks the latest assault on an investment type that has come under fire from regulators for playing a central role in cases where rogue investment advisers abused clients.
BUSINESS
By BLOOMBERG NEWS | November 23, 2004
ST. LOUIS - Shares of Pulitzer Inc., owner of the St. Louis Post-Dispatch and 78 other newspapers, rose more than 17 percent after the company said it's considering a sale. The company may sell for as much as $1.5 billion, and Gannett Co., the largest U.S. newspaper publisher, could be a leading candidate to buy it, said Barry L. Lucas, an analyst with Gabelli & Co., which owns Gannett shares. Pulitzer's 14 daily and 65 weekly newspapers are located primarily in mid-size and small U.S. cities such as Bloomington, Ill., and Provo, Utah, which makes the company attractive to a range of suitors, said Lucas.
BUSINESS
By MATT LUBANKO | October 10, 2004
When buying mutual funds, I always used to buy Class B shares or Class C shares, the type that do not levy an upfront sales charge. These always seemed to make more sense to me; they looked like the cheaper way to go. Then my financial adviser opened my eyes. He explained why Class A shares, which require an upfront sales fee, often are cheaper to own than Class B shares or Class C shares. I think your readers should know what I just learned. Can you please relay this message? - B.S., Titusville, Fla. With so many variables, it's impossible to say that one particular share class always has a clear-cut cost advantage over another.
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | December 3, 1994
Crown Central Petroleum Corp.'s Class B stock fell to its lowest level in nearly two years yesterday, apparently hammered by the company's continuing financial difficulties.In American Stock Exchange trading, Crown Central B shares, which have a tenth of a vote apiece, fell $1, to $12.375.The one-vote-per-share Class A shares, which are mostly controlled by Chairman Henry A. Rosenberg Jr. and his family, fell 37.5 cents to $14.50.It was the lowest price for the B shares since early January 1993, and nearly half of what they were selling for as recently as April of this year.
BUSINESS
By BLOOMBERG BUSINESS NEWS | May 10, 1996
NEW YORK -- Warren Buffett's new class of common shares changed hands on their first day of trading at a pace that was brisk by his company's standards.The new "Baby Berkshire" stock -- Class B shares of his holding company, Berkshire Hathaway Inc. -- during the day climbed up to 9.9 percent from their offering price and traded at a premium of more than 7 percent above the old shares, now designated as Class A stock.Some 85,640 Class B shares changed hands yesterday, equal to almost 17 percent of the total available for sale.
NEWS
By Liz Atwood and Liz Atwood,SUN STAFF | April 21, 2004
Maybe you don't live in an 18th-century mansion furnished with period antiques. But even if your home is decidedly modern, you can still eat like the guests of an Annapolis bed and breakfast. The Annapolis Bed & Breakfast Association has published a book of recipes from its 15 members. In Favorite Recipes of Annapolis Bed & Breakfasts (Fundcraft Publishing, 2003, $10), you'll find more than 70 pages of recipes ranging from appetizers to desserts. As might be expected, many of the dishes are breakfast or brunch offerings, including six kinds of pancakes and 11 types of French toast.
BUSINESS
By Julie Jason | March 7, 2004
Attention, mutual fund, variable annuity and 529 plan investors: The Securities and Exchange Commission wants to hear from you. In an unusual move, the SEC is seeking investor input on two new forms intended to shed light on potential conflicts of interest at the time of sale, according to Susan Wyderko, the agency's director of investor education. "The forms can help you decide whether the investment is good for you or good for the broker," explained Wyderko. The last time the SEC did this kind of outreach to investors was in the mid-1990s, when it issued a concept release on disclosure of risk in mutual fund prospectuses.
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