Word: austine
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Dates: during 1950-1959
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Situated just off Tufts campus in Medford, the Fletcher School was founded jointly by Harvard and Tufts in 1933, to "offer a broad program of professional training in international affairs to a elect group of graduate students." Its birth, however, was difficult and uncertain. When Austin B. Fletcher, president of the Tufts Board of Trustees, left a bequest of $1,000,000 for a law school, many universities were interested...
STAN WALKER Austin, Texas...
...Britain's postwar scramble for dollars, no exporters have scrambled harder than two rivals of the motor industry: Viscount Nuffield, head of Morris, and Leonard P. Lord, boss of Austin. When Lord brought out a new Austin for the export trade, Nuffield retaliated with the popular-priced Wolseley. When Lord introduced two bigger models, Nuffield struck back with the sporty M.G. and the sleek Riley. No sooner did Lord start pushing Austin's two-seat convertible than Nuffield brought out a new Morris Minor. (TIME, Feb. 7, 1949). But since Lord had been Nuffield's right-hand...
Last week friendship conquered all. Nuffield and Lord announced that, subject to approval by stockholders and the Treasury, Morris and Austin will merge. Morris-Austin will thus become the fourth largest automaker in the world, next to the Big Three of the U.S. With combined production of nearly 400,000 units a year, it will be more than twice as big as its nearest British competitor, Ford's subsidiary. Though their sales organizations will be merged, the two firms will continue to make separate models; eventually, however, they will lop off models that compete with each other...
...recently arisen from their competition for manpower and materials. There is another reason for the merger. Nuffield, now 74, plans to retire soon, and thinks that only his old rival can take his place, But 54-year-old Leonard can do so only through a merger. Two years ago, Austin gave him $70,000 cash and 80,000 shares of tax-free stock in return for his promise that he would never work for a competitor...