In 1980, aided by $1.5 billion in loan guarantees from the U.S. government and his own pitchman routines on television, Lee Iacocca brought Chrysler back from the abyss.
From Carol Loomis
Limited partnerships are required to amend their filings whenever important changes, such as the admission of new partners, take place.
I didn't want to be a 'Fortune' writer who was constrained in any way.
By late 1953, going to New York on vacation, I had lined up several Time Inc. interviews - and what they did was give me a lifelong appreciation of the importance of luck in getting a job.
The 'Fortune' I came to work for on Jan. 25, 1954, was a monthly, with pages significantly larger than what you're reading; 'art' covers that did not relate to stories inside; and a newsstand price of $1.25.
From the minute I got to 'Fortune,' I loved my job. I knew myself to be a virtual dunce about business, and I was wide-eyed about how much I was learning.
On the rare occasions when my family talked about business, the subject was Kansas City's Boss Pendergast and his potential for muscling my dad's small gravel-and-sand operation.
Every regulatory speech on derivatives takes a bow to their hedging 'benefits.' Less publicly, regulators pay their respects to derivative profits, a blessed relief from the banks' troubled loans to less-developed countries, highly leveraged companies, and real estate swingers.
In the 1987 stock market crash, according to the conclusions of the official Brady report, colossal sales of stock index futures by so-called portfolio insurers - whose investment strategies depended entirely on these derivatives - greatly exacerbated the 500-point market decline.
The good thing about a dealer's derivatives portfolio is that it is marked to market.
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