Business Services Industry
Goodyear fund one of 7 hiring Duff & Phelps as manager. (Goodyear Tire & Rubber Co.)(Duff & Phelps Investment Management Co.)
Crain's Cleveland Business, October, 1988 by Burr, Barry B.
Goodyear fund one of 7 hiring Duff & Phelps as manager Goodyear Tire & Rubber Co. and the Tennessee Valley Authority have hired Duff & Phelps Investment Management Co., a money manager with offices in Cleveland and Chicago, to run fixed-income portfolios. In all, seven new clients assigned about $124 million to Duff & Phelps.
TVA, based in Knoxville, Tenn., assigned the investment firm $70 million, while Akron-based Goodyear assigned it $30 million. Among the other clients is Hydraulic Co., Bridgeport, Conn., which is using two money managers for the first time for its $25-million pension fund. According to Joseph J. Murphy, Hydraulic's chief financial officer, the fund assigned Duff & Phelps $10 million to $12 million, split about evenly in separate...
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