Word: alcoa
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Dates: during 1950-1959
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When Lenore Lafount moved to New York to study acting, he spent all his weekends there. In 1930 he went to work as a lobbyist for Aluminum Co. of America; when Lenore got an offer from Hollywood (she was a bit player), he convinced Alcoa that he would be more valuable in their West Coast office. "I kept thinking," he says, "that some movie hero would get her." Lenore thought she wanted a career, but George's persistence was overpowering. Just as M-G-M offered her a three-year contract, he persuaded her to marry him instead, took...
...Alcoa...
...Smith proved this in a booth in Manhattan's Grand Central Station. There a whirring IBM Cardatype accounting machine figured what would have happened had an investor put an average $500 a year into a stock every year since 1929-about $15,500 in all. Had he bought Alcoa, his shares would be worth $115,850, and he would have pocketed $17,158 in cash dividends-a paper profit of $117,373 before taxes. Other top gainers on the same basis...
...buying more shares. The banks said they would pay $11.48 a share for one-half of each stockholder's holdings if he would keep the rest three months, i.e., until the fight was over. This only made stockholders madder, since it showed that the original price to Alcoa had been much...
...London's City predicted that the Treasury would quickly approve the Tube-Reynolds takeover, Alcoa in Pittsburgh tersely gave notice that it had "no further interest" in the matter. Privately, Alcoa officials fumed that the Aluminium management had led them down the garden path by airily assuring Alcoa that Treasury approval was routine. The worst of it was that once Alcoa had signed the $8.40 agreement, it could not go into the market and offer more without making the $8.40 look bad. To top off Alcoa's unhappiness, its chief competitor had a major European affiliate; Alcoa...