SPINNERETTE 09.14.23
Today’s MTCH-UP CHG was with two companies - ARE +3.33 and IT +3.33 which equaled +6.66 which had an additional MTCH-UP with META +6.66.
ETTA MARIE / METER TIAA / RATE TEAM I
This week’s Spinnerette actually turned into a coherent sentence. Obviously, ETTA MARIE is a woman’s name however TIAA is an Acronym that stands for Teachers Insurance and Annuity Association of America and is a financial organization that provides investment and insurance services for individuals working in the non-profit industry. What I didn’t know was that TIAA was created by the industrialist and philanthropist, Andrew Carnegie in 1918 with a start-up of a Million dollar endowment from the Carnegie Foundation in order to provide pensions for professors. It shortened the acronym in 2016. The original acronym was TIAA-CREF standing for Teachers Insurance and Annuity Association-College Retirement Equities Fund. While researching Andrew Carnegie I learned that he had built an immense fortune and was known for giving most of it away to benefit society. We could use someone like that today!
According to the anagram, ETTA MARIE was to METER TIAA and RATE TEAM I. When I start a Spinnerette I never know where it can take me until I start the journey. In this case, to my delight the additional CHG match-up was META. Of course, those reading this BLOG know who owns that Company. Whenever, the Spinnerettes match-up and especially if they match with the Financial Industry I am wonderstruck.
Without a doubt, this Spinnerette prompted me to write about the Robber Barons taking me to the earlier days of prosperity; the days of monopolies. Andrew Carnegie (Steel) was among the famous Robber Barons. Some other historic Robber Barons included, John D. Rockefeller (Standard Oil) Cornelius Vanderbilt (Shipping and Railroad) and JP Morgan (Railroad and Banking). History dubbed this period The Gilded Age. These men monopolized the economy until the government approved the Sherman Anti-Trust Act 1890 which was the first law to curtail the power of the monopolies.
A DADDY LONGLEGS: Currently, In The News - Amazon is facing Monopoly criticism and review by the Federal Trade Commission. More news to come regarding that fight.
ARE stands for Alexandria Real Estate which trades on the NYSE. The Stock Price was $114.13 with a CHG of +3.33. A brief history view of this company is that it is a Real Estate Investment Trust - REIT. Some of you may ask what is that??? I did??? It is a company that owns and can operate income-producing real estate. ARE’s revenue is approx. US$2.588 BILLION. The number of employees is approx 600. The company is headquartered in Pasadena, CA and was founded by Joel S. Marcus and Jerry M. Sudarsky in 1994.
Traded Today @ $114.13
IT is Gartner Inc and also trades on the NYSE. The Stock Price was $356.52 with a CHG of +3.33. Gartner, Inc is an American Technological Research and Consulting Firm headquartered in Stamford, CT. The company was founded by Gideon Gartner in 1979. According to Wikipedia the company’s revenue last year was valued at $US5.48 BILLION with 21,500 associates.
Traded Today @ $356.52
META is Meta Platforms Inc (formerly Facebook) trades on NASDAQ. The Stock Price was $311.72 with a CHG of +6.66. Meta formally Facebook is a multinational technology conglomerate headquartered in Menlo Park, CA and is considered one of the Big Five American IT companies. The company was founded on January 4th, 2004 in Cambridge, MA by Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. The companies reported Revenue is approx. US$116 BILLION employing a staggering 71,000 or more employees as of this year.
Traded Today @ $311.72