Word: alberts
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Dates: during 1950-1959
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...Yard did not seem to mind. But then Billy Hill, bored with the artistic life, began to frequent his old haunts with the possible notion of taking over the rackets from Spot. One day last August, Spot, dressed in his elegant best, and a tearaway identified as "Italian Albert" Dimes began slashing at each other with shivs amid the crowds of shoppers in Soho's Frith Street−an event which indicated that, at the very least, things were not all quiet in the rackets. Because of the obliging perjury of a petty con man posing as an Anglican...
...William Larimer Mellon Jr., scion of the Pittsburgh Mellons, was rich and 37, with a pretty wife and children and a new house on a smooth-running Arizona ranch. He was looking through the pages of LIFE one day when he stopped at a picture story about Dr. Albert Schweitzer, who 51 years ago gave up a brilliantly versatile career−as theologian, organist, teacher and musicologist−to become a doctor and work among the natives in the African jungle. "There was a picture of Dr. Schweitzer and an antelope," Mellon recalls. "I had thought he was an organist...
...Albert's fall had been far faster than even his fast rise. He got his start by trading his holdings in L. Albert & Son, a family rubber-mill and plastic-molding machinery business that he inherited from his father (1954 gross: $1,246,000), for 82% of the 1,300,900 shares of Bellanca, then a corporate shell which had some aircraft-parts contracts. Thus, he got a listing on the American Stock Exchange, and a ready market for stock. Albert promptly bought or traded into major interests in a grab bag of some 70 companies, including control...
Find the Assets. His specialty was to find small but solid companies that had undervalued assets on the books, i.e., a warehouse or machinery which had been fully depreciated, thus were on the books for a nominal value of $1, although worth far more. By selling off these assets, Albert picked up cash, which he used to buy more companies when he could not trade stock...
...week's end Albert was reportedly dickering with a New York group either to take over Bellanca or bail him out with cash. He had lost his holdings in Waltham Watch and resigned as chairman of Pierce Governor, which promptly proclaimed that it was in sound condition. Only Albert knew what shape Bellanca was in, but even he was not sure. When an aide was asked what properties Albert still owns, he replied: "I don't know, and I don't think Mr. Albert knows...