Pilgrim Baxter loses 40% of its assets
Article Abstract:
Pilgrim Baxter & Associates, which showed an excellent performance in 1996, reported an asset decline of around 40% in 1998. The fund manager, which gained prominence for its small-cap stock funds, attributes the poor showing to the exodus of investors. Boston, MA-based Financial Research Corp., which monitors fund flows, said two of the firm's flagship funds showed a combined redemption of $1.8 billion during the initial eight months of 1998. Friess Associates Inc. is the only other fund firm of similar size, which reported an asset drop on a percentage basis, according to Financial Research.
Comment:
Reports an asset decline of around 40% in 1998
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Chapter 11 ends for Dow Corning
Article Abstract:
Dow Corning emerged from the Chapter 11 bankruptcy protection filed in 1995 after it was hit with 19,000 lawsuits claiming that the silicone implants caused autoimmune diseases. With the end of the Dow Corning's bankruptcy protection, the victims would begin receiving payments from a $2.35 billion fund the company has set aside.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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Bad formula for chemicals
Article Abstract:
The US chemical industry is in a severe crisis as a result of cheap foreign competition and soaring energy costs. The Standard & Poor's 500 chemical index is down 4.1 percent from March 1998 through March 2004 compared with an 11.5 percent gain for the overall S&P.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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