Word: argonauts
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...yesterday, though weakened by a mysterious influenza virus, it attacked the regatta when it needed to, leaving a strong Scottish Argonaut eight three seconds behind in the opening round of the Thames Challenge...
Spyros Skouras, who as boss of 20th Century-Fox from 1942 to 1962 brought out such sagas as Lifeboat and Titanic, last week took the lead in another kind of sea drama. At a Washington press conference, the 72-year-old argonaut announced that the Prudential Lines, a seven-ship company that he heads, had applied to the Maritime Administration for a subsidy to help build a $250 million fleet of 16 freighters. While new forms of transportation were being devised elsewhere (see WORLD BUSINESS), Skouras showed off designs for vessels intended to cut shipping costs and vastly speed...
Disenchanted Argonaut. The would-be buyers, negotiating back in Manhattan, are big men themselves. They are mostly onetime U.S. Defense Department officials who in 1958 bought out the New York-based Marine Transport Lines, which is bidding for the Niarchos fleet and is anxious to keep it out of foreign hands. Through a complicated maze of companies, they operate 61 ships under American and Liberian flags. Leading the group is H. (for Harris) Lee White, 52, former Air Force Assistant Secretary, now a partner in the Wall Street law firm of Cadwalader, Wickersham & Taft. Other principals are ex-Deputy Defense...
...sale, which has been long in coming (TIME, Oct. 9), is the result of Niarchos' growing disenchantment with his argonaut's role. The world has become all too stable for him: there has been no Korean or Suez crisis lately to drive up oil prices and tanker rates. Niarchos did make a bundle by hauling oil for the Russians, notably during the Cuban missile crisis. But some U.S. oil giants are mad at him for carrying cut-price Russian oil that undersold their own; they are at least informally boycotting Niarchos' vessels and building more and more...
...older brother, who was killed in World War II, happened to be at the right place at the right time, a Defense official said: "Pure coincidence." The Pierce is named for a lieutenant commander who won the Navy Cross and lost his life in 1944 while commanding the U.S.S. Argonaut against the Japanese. In the battle, the Argonaut went down with all guns firing...