Don’t Write Off Partnerships

Junk bonds are dead, and stocks are a tough sell. So where do you invest for a decent return in the ‘90s? The limited-partnership industry believes that its time has come--again.

Limited partnerships were wildly popular in the mid-’80s, mainly as tax writeoffs: You’d lump your $5,000 with similar investments from others, and a general partner would invest the money in some depreciable asset, often real estate.

Now the partnership people say their method of direct investment is ready for a resurgence. Christopher Davis, head of the Washington-based Investment Partnership Assn., says partnership sponsors are cutting fees, offering early-redemption features (exiting partnerships has long been a problem) and guaranteeing minimum yields.

Two other reasons partnerships will look good in the ‘90s, Davis says: “They resist sudden market swings and are largely immune from foreign market influences.” Read: There’s no program trading here, and fickle foreigners can’t whipsaw your investment’s value.

Lonely Jet Lands in Museum

Although Northrop could not sell a single F-20 Tigershark, it certainly succeeded in giving one away.

The company has donated the only existing F-20 to the California Museum of Science and Industry, which will mount the small jet fighter in a “dramatic vertical climb.”

Northrop spent $1.2 billion of shareholder funds to develop the aircraft and build three prototypes, two of which were destroyed in crashes. The company failed to sell the F-20 to any foreign nations and lost a last-ditch effort to sell it to the Air Force in 1986.

The single remaining F-20 was ordered into flyable storage by its spiritual father, former Northrop Chief Executive Thomas V. Jones. The decision to donate the aircraft was made last year, a company spokesman said, though it was not until a month after Jones stepped down that the aircraft was sent to the California museum.

The museum cited the display as a “tribute to the quality, workmanship and dedication of aerospace workers in Southern California at Northrop.”

A Buyer’s Market for Brokers

Amplicon Financial, an equipment leasing firm, is looking for a few good stockbrokers.

And, thanks to tough times in the brokerage industry, the Santa Ana company seems sure to find them.

Amplicon, which has revenues of $135 million and about 185 employees, ran two help wanted ads recently entitled “Attention Stockbrokers.”

The ads note that Amplicon has a few open sales positions and prefers to fill them with brokers because successful brokers have already learned the business development skills Amplicon agents need.

In less than a week, more than 85 stockbrokers have called or sent resumes, said Randy Murphy, the company’s director of human resources. That’s a stark contrast from a year ago, when a nearly identical advertisement attracted fewer than a dozen resumes.