Pension Fund Gains $1.28 Million on Sale of Northwest Stock
The city of Milwaukee pension fund last week made a profit of about $1.28 million on rumors surrounding a possible takeover attempt of Minneapolis-based Northwest Airlines Inc.-and it stands to make millions more. And if Milwaukee County’s pension fund were to sell its substantial interest in the airline, it could reap profits approaching $900,000. Until last week, the city of Milwaukee Employees Retirement System, a pension fund with assets of $14 billion, held 146,500 shares of common stock in NWA Inc., the parent company of Northwest Airlines. The stock was accumulated in 10 separate purchases beginning in January 1987 for an average price of $53.32 per share, said Robert Nehls, secretary and executive director of the fund. (excerpt)
forex documents
Olson, Jon
Full text: [The Business Journal] Apr 10, 1989