RECESSIONARY RIDE: Privately owned
Fidelity Investments reports that its employee share values increased in 2008, but 18% less than they did the year before. Analysts believe this is a good place to be during a recession that has plummeted many investment firms downward. A Moody's Investors Service analysts think that Fidelity has had a downturn through its subsidiaries including BostonCoach, real estate investments, and a Maine tomato-growing enterprise. BostonCoach has had to cut down on its costs and has had less affiliate work to send out, according to operators we've talked to. It's a good thing to be in the Fidelity Investment family at this point though since the parent company looks like it will get through this down time fairly well, and BostonCoach will benefit from this back up. -- J.L.
Print | posted on Tuesday, February 24, 2009 8:20 AM