May 5, 1991
The idea of "current market value" as expressed by Mr. Ackerman is difficult to define. If homeowners asked three real estate brokers or appraisers to give a "current market value" for their home, they could easily get three different opinions. An attempt to reassess every parcel of property in the state every year at "current market value" would be a logistic nightmare. Assessors' offices throughout the state would be overwhelmed with work. It would take hundreds of new employees to accurately reassess every parcel every year.
December 15, 2012 |
SAN FRANCISCO - With only modest expectations, Robert Leitao of Santa Clarita made a decision in 1994 that would change his life. He bought Apple stock. This was several years before Steve Jobs returned to resurrect Apple, long before the iPod, the iPhone or the iPads that would make Apple the most valuable company in the world. A $1 investment in Apple at the start of 1994 is now worth about $70. "Even with the recent sell-off, I'm still doing very well with the stock," said Leitao, who works as director of operations at a Catholic church in Burbank.
July 30, 2008 |
Alcatel-Lucent, the world's largest supplier of fixed-line phone networks, said Chief Executive Patricia Russo, 56, and Chairman Serge Tchuruk, 70, quit as the Paris company reported its sixth straight quarterly loss. Russo and Tchuruk were the architects of Alcatel's 2006 purchase of Lucent Technologies Inc., creating a company that has never earned a profit and lost 62% of its market value.
April 20, 1986
In his April 2 Labor column ("Hormel Union Dissidents Pick Bad Time for Good Fight," Harry Bernstein says: "Several non-union firms now pay their workers $6 an hour or less, and even though Hormel still is making a profit ($38 million last year), the firm says it must have more labor cost reductions to remain in the black." Bernstein theorizes that because Hormel was making a profit it should be able to pay higher wages. A bit of research would have revealed that the February, 1986, Standard & Poor's Stock Guide states that Hormel had 19,213,000 shares outstanding.
December 16, 1990
If one considers popular beliefs that fuel ambition, one sees that most people associate higher levels of authority with higher levels of pay. In fact, it is more or less a universal managerial dogma in this country. Even though, intuitively, it seems an obvious principle, it is not necessarily rational. It stands in opposition to the market principle of supply-and-demand. The market value for a particular type of supervisor may be lower than for the employees he supervises. So organizations often create unnecessary credentials or work-experience requirements to justify higher pay. The traditional system incorrectly presumes that supervisorial and management skills are of greater value to the organization's effectiveness and profitability than are the skills being supervised.
May 14, 1999 |
All hail the hottest new Internet stock: IBM! That sums up Thursday's market action, as IBM shares rocketed $20.50 to a record $246--adding an astounding $19 billion to the company's market value--after Chairman Louis Gerstner implied that IBM was undervalued relative to the amount of Net-related business it's already doing.