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BUSINESS
By Bloomberg Business News | September 11, 1992
NEW YORK -- Corporate bond sales exceeded $2 billion for the third straight day yesterday as interest rates continued to decline.Duke Power Co. sold $200 million of 13-year notes. Heller Financial sold $200 million of floating rate notes. International Lease Finance issued $100 million of three-year notes. Masco Corp. sold $200 million of seven-year notes. Western Publishing Group issued $150 million of 10-year notes. Several banks sold a total of $500 million of one-year notes.In the asset-backed bond market, Chrysler Corp.
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BUSINESS
By Natalie Sherman, The Baltimore Sun | July 5, 2014
Legg Mason plans to close a deal this month to restructure $650 million in debt, a move designed to lock in favorable interest rates for the long term while taking advantage of the market's sustained appetite for corporate bonds. The money raised from the sale will be used to pay off $650 million of notes due in 2019, which the Baltimore-based money manager issued two years ago at a rate of 5.5 percent. The firm's total debt of just over $1 billion would remain unchanged. Legg's decision to restructure debt follows the path of dozens of companies, including asset managers Invesco, Janus Capital Group and Icahn Enterprises, that have pursued refinancing in expectation of rising interest rates.
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SPORTS
By Ken Murray | October 2, 1991
Malcolm I. Glazer formally threw his hat into the NFL's expansion ring yesterday when he filed an ownership application for a team in Baltimore.Glazer, founder of First Allied Corp., issued a statement that said his application gives the NFL what it is looking for -- "a financially strong single owner, a brand new football stadium, and most importantly a great city."He cited a line in the league's application form that said the NFL "has traditionally looked with favor on consolidation of ownership interests in a club in as few hands as possible, to minimize intra-club dispute potential."
BUSINESS
By Gail Marksjarvis and Gail Marksjarvis,Chicago Tribune | December 10, 2006
If you are a bond investor, beware of letting the stock market make you feel comfortable. The stock market has been reaching new highs, but bond analysts are warning that stock prices do not reflect the potential risks ahead for the economy or high-yield bonds. Stocks are being driven higher by conditions good for stockholders, but not necessarily for the economy or corporate bonds. Flush with cash, companies are buying back shares of their stock, paying dividends and conducting huge mergers and acquisitions.
BUSINESS
By Gail Marksjarvis and Gail Marksjarvis,Chicago Tribune | December 10, 2006
If you are a bond investor, beware of letting the stock market make you feel comfortable. The stock market has been reaching new highs, but bond analysts are warning that stock prices do not reflect the potential risks ahead for the economy or high-yield bonds. Stocks are being driven higher by conditions good for stockholders, but not necessarily for the economy or corporate bonds. Flush with cash, companies are buying back shares of their stock, paying dividends and conducting huge mergers and acquisitions.
BUSINESS
By MATT LUBANKO | January 25, 2004
I HAVE about 70 percent of my portfolio invested in the Vanguard GNMA Fund (ticker symbol: VFIIX) and the T. Rowe Price GNMA Fund (PRGMX). If interest rates rise in the next year or two, and I strongly believe they will, these Ginnie Mae funds could fall in value. With this forecast of rising interest rates in mind, how can I adjust my portfolio and protect my principal? -- S.B., Antioch, Ill. There are at least three ways to defend a long-term bond portfolio from the scourge of rising interest rates.
BUSINESS
By Gail MarksJarvis and Gail MarksJarvis,KNIGHT RIDDER/TRIBUNE | February 6, 2000
There was a time when the American icon of the life of leisure was a gentleman so well-situated that he simply spent his days lounging around clipping bond coupons. But a new era has come along to change the formerly easy life of corporate bond investors, whether they're rich or of moderate means. "Gone are the days when you just buy a bond and hold it," says Mark Simenstad, Lutheran Brotherhood portfolio manager. "Even the old stalwarts can get hurt very fast." Consider some of the household names that have recently been battered: J. C. Penney, Saks, Waste Management, Lockheed, Safeco and Levi Strauss.
BUSINESS
By BLOOMBERG NEWS | April 7, 2005
NEW YORK - Wm. Wrigley Jr. Co., the world's largest chewing-gum maker, plans to issue bonds for the first time in its 114-year history to finance the purchase of brands including Life Savers and Altoids from Kraft Foods Inc. Wrigley, which first sold shares to the public 88 years ago, will sell $1 billion in debt and borrow $1.5 billion in the commercial paper market for the first time, according to a report by Standard & Poor's. Commercial paper is debt that matures in nine months or less.
BUSINESS
By Suzy Hagstrom and Suzy Hagstrom,Orlando Sentinel | June 26, 1992
ORLANDO, Fla. -- Many of the nation's individual investors will spend the next few weeks figuring out how to reinvest their money when their bonds mature or are refinanced.Financial experts predict that July 1 will be a record day for bond refunds. An estimated $6 billion in principal will be returned to municipal bondholders and additional billions to owners of corporate bonds.Stockbrokers such as Edward "Skip" W. Strohm III of Prudential Securities Inc. in Orlando say some clients will put the cash in stocks because newly issued bonds will yield such low returns.
BUSINESS
By BLOOMBERG NEWS | November 6, 1998
WASHINGTON -- U.S. companies added fewer jobs than expected in October and the unemployment rate held at 4.6 percent, as the Labor Department caught investors off guard yesterday by mistakenly releasing its employment report a day early on the Internet.Last month's increase of 116,000 jobs was the smallest gain in seven months and fell short of analysts' forecasts of a gain of 180,000. A revision to September's employment figures showed the economy added 157,000 jobs that month, more than twice the 69,000 previously reported.
BUSINESS
By BLOOMBERG NEWS | April 7, 2005
NEW YORK - Wm. Wrigley Jr. Co., the world's largest chewing-gum maker, plans to issue bonds for the first time in its 114-year history to finance the purchase of brands including Life Savers and Altoids from Kraft Foods Inc. Wrigley, which first sold shares to the public 88 years ago, will sell $1 billion in debt and borrow $1.5 billion in the commercial paper market for the first time, according to a report by Standard & Poor's. Commercial paper is debt that matures in nine months or less.
BUSINESS
By EILEEN AMBROSE | November 28, 2004
THERE WAS a time not too long ago when stocks were scary and bonds looked safe. Investors rushed into bonds, only to discover that fixed-income investments can be risky, too. Complaints regarding brokers and bonds shot up. Last year, arbitration cases involving corporate bonds rose to 353. That's a fraction of the several thousand arbitrations over stocks and mutual funds last year, but more than double the number of bond cases in 2001, according to...
BUSINESS
By MATT LUBANKO | April 4, 2004
CAN I claim a capital loss on corporate bonds that mature at a price higher than what I paid to buy them? And if I can't, is there another way I can reduce my taxable income on bonds that have a face value of $10,000 but were often purchased at prices above $10,400? - B.D.S., Guilford, Conn. You have two tax-smart choices when dealing with bonds purchased at prices above their face value. You can declare a capital loss after they mature. Or, over the expected life of the bond, you can spread out, or amortize, the cost of that premium.
BUSINESS
By MATT LUBANKO | January 25, 2004
I HAVE about 70 percent of my portfolio invested in the Vanguard GNMA Fund (ticker symbol: VFIIX) and the T. Rowe Price GNMA Fund (PRGMX). If interest rates rise in the next year or two, and I strongly believe they will, these Ginnie Mae funds could fall in value. With this forecast of rising interest rates in mind, how can I adjust my portfolio and protect my principal? -- S.B., Antioch, Ill. There are at least three ways to defend a long-term bond portfolio from the scourge of rising interest rates.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | October 28, 2001
As short-term interest rates have plunged, conservative investors have felt the pinch, watching yields drop steadily on their certificates of deposit and money market accounts. But fixed-income investors can still pursue strategies to maximize returns, depending upon the type of investment and the level of risk, even as the Federal Reserve slashes interest rates to stimulate a faltering economy. "Anytime there's global uncertainty and chaos in the markets like now, the difference between interest rates on government fixed-interest [securities]
BUSINESS
By EILEEN AMBROSE | September 23, 2001
FOR SOME, the Federal Reserve couldn't cut interest rates fast enough this year to prop up the weakening economy. But for conservative investors relying on interest income, each rate cut was likely greeted with a moan of "Not again." Last week, the Fed cut interest rates for the eighth time this year after terrorist attacks in New York and Washington. That means another drop in the rates of short-term certificates of deposit and money market accounts. A year ago, rates on certificates of deposit were near a five-year high, with the average yield on a one-year CD at 5.66 percent, reports Bankrate.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | October 28, 2001
As short-term interest rates have plunged, conservative investors have felt the pinch, watching yields drop steadily on their certificates of deposit and money market accounts. But fixed-income investors can still pursue strategies to maximize returns, depending upon the type of investment and the level of risk, even as the Federal Reserve slashes interest rates to stimulate a faltering economy. "Anytime there's global uncertainty and chaos in the markets like now, the difference between interest rates on government fixed-interest [securities]
NEWS
By Kim Clark and Kim Clark,Staff Writer | May 12, 1992
Delano Thomas, mother of two sons who've recently been laid off and a daughter who needed financial help to buy a house, spent Mother's Day learning how to get rich quick in real estate. And junk bonds. And T-shirts that change color depending on the weather.For 12 hours Saturday and again Sunday, she watched a parade of self-proclaimed financial whizzes promise to make her wealthy -- for a price: $495 for audiocassettes, or $7,000 for Russell Whitney's weeklong "Millionaire University" course in Florida.
BUSINESS
April 29, 2001
SEVERAL years ago during the raging bull market, Greg Prost would attract attention at a cocktail party when tip-hungry investors heard he worked at an investment firm. Once they learned he was a "bond guy," though, "they would move right along," says Prost, chief investment officer for Ambassador Capital Management in Detroit. Bonds were considered too stodgy, too blue-haired, too yesteryear. Not any more. After the pummeling of stocks that began last year and continues today, investors have come to appreciate the stability that bonds can add to a portfolio.
BUSINESS
By Gail MarksJarvis and Gail MarksJarvis,KNIGHT RIDDER/TRIBUNE | February 6, 2000
There was a time when the American icon of the life of leisure was a gentleman so well-situated that he simply spent his days lounging around clipping bond coupons. But a new era has come along to change the formerly easy life of corporate bond investors, whether they're rich or of moderate means. "Gone are the days when you just buy a bond and hold it," says Mark Simenstad, Lutheran Brotherhood portfolio manager. "Even the old stalwarts can get hurt very fast." Consider some of the household names that have recently been battered: J. C. Penney, Saks, Waste Management, Lockheed, Safeco and Levi Strauss.
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