Record interest rates set best-laid plans agley
A financial maelstrom hits big and small, the prosperous and the striving, without discrimination. Mighty IBM, a seemingly surefire Boston real estate project, and the gold futures market were all sent reeling in last week's crunch. Even the Wall Street Journal had a hard time putting it all together.
From Blue to Red
Of all blue-chip stocks and bonds, few radiate so pure an azure as IBM's. Thus when the mammoth computer corporation decided to raise $1 billion, half of it in 25-year debentures, some Wall Street...