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.
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.
April 27, 1993
SafraCorp California, Encino-based holding company for SafraBank California, has agreed to be acquired by Republic New York Corp., holding company of Republic National Bank of New York. Republic said it is buying SafraBank to gain entry into private banking in California. Under the merger agreement, Republic said it will pay book value for SafraBank, or the net value of SafraBank's assets, after adjusting the assets and liabilities to market value as of the sale's closing date.