Word: fireman
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Insurance companies, which own about 15% of the Nos. 4 and 5 bonds, are probably the biggest losers. According to A.M. Best Co., an insurance-industry research firm, Aetna Life & Casualty held $50 million worth of the securities at the end of last year, while Fireman's Fund, a unit of American Express, had $48.9 million at risk, and Kemper had $24 million. None of these companies, however, has fallen into financial trouble. Says an Aetna official: "Our losses will not be insignificant. But our other assets are very secure, and our foundation is very, very solid." Aetna...
...proposed purchase of Investors Diversified Services, the principal subsidiary of Alleghany, continues American Express's push into financial services. In addition to its own credit cards and traveler's-check business, the company already owns Shearson, a leading Wall Street securities firm; Fireman's Fund, a large insurance company; and the non-U.S. banking subsidiaries of Switzerland's Trade Development Bank. The deal puts American Express back into the mutual-fund market, which it left in 1975. IDS is one of the top ten American managers of mutual stock-and money-market funds. It runs...
...United States feels itself authorized to intervene in Central America to put out a fire in your front yard--I'm delighted that we have been promoted from the traditional status of back yard--then the Soviet Union also feels authorized to play the fireman in all of its front and back yards...
Explaining the decision to throw the couch out of the fourth-floor window, a fireman said. "You can't just put a little water on one of those things and leave them sitting...
...best, and wait. Actress Meredith MacRae takes the Fantasy "truck" across the country and stops at the houses of fortunate correspondents. One woman described her wish to give her husband an orange tree, something he's always wanted. Another wife hoped to win a drum set for her fireman husband because he had to sell his old one. Admittedly, not owning a drum set of a fruit tree doesn't constitute economic destitution. But the viewers' letters and obvious joy (a camera crew of course record the happy fantasy realization, "it's a miracle," the tree recipient said) suggest their...