FLF 201 Lecture Notes - Lecture 1: Jpmorgan Chase, International Paper, Dying Young
20 Jul 2020
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Viatical the sale of a life insurance policy by someone who is terminally ill and insured to another party. The other party is typically investors or investor groups, who hope to profit off of the early death of the insurer. Henry phipps jr consolidated most of his assets into bessemer investment company organized bessemer trust company in 1907 to administer trusts for his children. 1932 3 days before new federal gift tax law 4 of the children created 15 new trusts for their children placing all stock interest into potomac corporation which would later become the bessemer securities corp. Part of 1st investment were in utility companies like ge, Banks like mellon national bank and corn exchange bank. Early investor in international paper company, ingersoll rand company, and wr grace. Aluminum company of america benefited from skyrocketing demand for aluminum post ww2. Farrington manufacturing company credit card manufacturer = thriving industry in.
