Word: hoarding
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...stake in Hertz (for $1.3 billion); California's First Nationwide Bank ($493 million), the fourth largest U.S. thrift institution; and BDM International ($425 million), a military research firm that will supplement Ford's longtime aerospace expertise. Ford is rumored to be interested in using its $10 billion cash hoard to go after a much larger acquisition, perhaps a company the size of Boeing, Lockheed or Singer...
Until the artist's death last year, after gallbladder surgery, the extent of his hoard had largely been a secret. As compulsive consumers go, he was inconspicuous. An old pal, Collector Suzie Frankfurt, once noticed a slight bulge under his shirt at a Studio 54 bash: it was a dazzling emerald necklace. Yet Warhol's opulent town house on Manhattan's Upper East Side was so cluttered with the fruits of his shopping binges that only two or three rooms were habitable. Picassos were stuffed in closets. Jewels were squirreled away in the canopy of his antique four-poster...
...Last week two major hardware manufacturers, IBM and Apple, announced major moves that could have an impact on the balance of competitive power in the bruising software business. Apple said it will create a new programming company, to be financed with some of the manufacturer's $700 million cash hoard, while IBM announced a ten-year alliance with Lotus Development, the No. 2 software producer...
...Many Senators resent the way the large schools like Harvard hoard all the money and all the schools are lobbying up here anyway," says a Senate aide. "It's just not fair and now my Senator thinks higher education is just as greedy as the steel or auto workers...
Ford may be shopping for other businesses as well. After four profitable years, the automaker has amassed a cash hoard of $8 billion, more than enough to finance research and development for several years plus another major acquisition. Last week the stock market buzzed with rumors that Ford was planning to buy the Charles Schwab discount brokerage firm or Lockheed, the aerospace company...