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He promised clients a 50% profit within 45 days or 100% profit within 90 days, by buying discounted postal reply coupons in other countries and redeeming them at face value in the U.S. as a form of arbitrage.: 1 In reality, Ponzi was paying earlier investors using the investments of later investors.
The temperatures in the Kazakh SSR would drop anywhere from −50 °C (−58 °F) during winter and then hit up to 50 °C (122 °F) during summer. They travelled in wagons that were locked from the outside, without light or water, during winter. Trains would stop and open the wagons only occasionally to bury the dead in the snow.
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The discount rates typically applied to different types of companies show significant differences: Start-ups seeking money: 50–100%; Early start-ups: 40–60%; Late start-ups: 30–50%; Mature companies: 10–25%; The higher discount rate for start-ups reflects the various disadvantages they face, compared to established companies:
The shares of beleaguered retailer J.C. Penney gained a surprising 8.84% on Oct. 28, 2013, to trade at $7.39, after CEO Myron Ullman gave more indications that sales trends are definitely improving.
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