Home / Markets / Industries / Finance

Friday, September 19, 2008

Ameriprise Sues Reserve Management Over Primary Fund

Wallace Witkowski

MarketWatch Pulse

SAN FRANCISCO -- Ameriprise Financial Inc. said Friday it is suing Reserve Management Co. alleging misconduct in its administration of The Primary Fund money market fund. Ameriprise, which filed the suit in a federal court in Minnesota, alleges Reserve agents selectively notified certain investors that The Primary Fund was heavily exposed to bankrupt Lehman Brothers and would "break the buck" before making this information public. Ameriprise is asking the court to require Reserve "to liquidate The Primary Fund in a fair and equitable manner that treats all investors equally."

Fox Business Video

- AIG Bonus Approval
- Jul 11, 2009
  
  AIG Bonuses
- Power Rankings: Where are They Now?
- Jul 11, 2009
  
  07/10/09
- Macrellus Willey: Life After F...
- Jul 11, 2009
  
  Wiley on Networking Site
- When a Dome Becomes a Home
- Jul 10, 2009
  
  Kubley on Dome Homes
- Helping Small Business
- Jul 10, 2009
  
  Yancey on Volunteer Work

FOX Translator

Indices

No data currently available.

Top Stock Gainers

No data currently available.

Most Searched Symbols

SYMBOL

Word of the Day

Same-Store Sales

Most folks judge the health of a business by the revenue that comes in through sales. But not all revenue is equal. Companies can grow their sales by buying other companies, which means you don't get a clear view of how the real sales trends are moving.

So, many analysts, particularly those who look at retail, try to gauge what¿s known as "organic" growth, by looking at same-store sales. These are sales only at outlets open more than a year, so the metric can exclude any sales jump that comes from opening new locations. Retailers release same-store sales (which are frequently called "comps" since they're a true comparison from the previous period) every month.

Retail, incidentally, isn't the only industry to look at same-store sales. Hospital companies, also use the metric, to gauge how existing hospitals are performing compared to ones they just built or acquired.