But the richest 10 percent of households own about 90 percent of the stock, expanding both their net worth and their incomes when they cash out or receive dividends.
Comerica Inc., Michigan's largest bank and the 24th largest nationally, said yesterday that it agreed to buy Imperial Bancorp for $1.3 billion in stock, expanding its business in California.
BLOOMBERG NEWS Linn Energy to Buy Berry Petroleum for $2.5 Billion | Deal making in the oil patch continued, as Linn Energy agreed to buy Berry Petroleum for about $2.5 billion in stock, expanding its presence in oil-rich shale formations.
EBay Inc., the largest Internet auction site, agreed yesterday to buy the closely held Half.com for at least $312.8 million in stock, expanding into fixed-price trades between Web users.
Hovnanian Enterprises Inc., the largest homebuilder in New Jersey, said yesterday that it had agreed to buy Washington Homes for $77.4 million in cash and stock, expanding into the Washington, D.C., market.
IMCO Recycling, which recycles aluminum and zinc, will buy an aluminum-sheet manufacturer, Commonwealth Industries, for about $175.6 million in stock, expanding its capacity to produce aluminum sheet from recycled metal.
Banco Popular Español agreed to buy 75percentt of Banco Nacional de Crédito Imobiliário of Portugal for about 390 million euros ($409 million) in stock, expanding in its neighboring market after a growth surge in Spain.
He's raised billions more issuing stock (expanding shares outstanding by an average 12% a year versus 2% for the industry).
Trucking company Yellow Roadway is buying competitor USF for $1.37 billion in cash and stock, expanding its business in the next-day regional market.
There were plenty of other changes to the average during this period in 1928, the list of Dow stocks expanded from twenty to thirty businesses but in retrospect the induction of P. & G. into the Dow club seems particularly prescient.
