Word: bankrupts
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Dates: during 1960-1969
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...Electro-Vision Corp., rid themselves of its lackluster movie-theater business, and began producing optical and cargo-handling equipment. Early in 1961, Stone's old boss at Monogram offered to sell him and Karp a controlling interest in the company, which, as Stone had fore seen, was going bankrupt. In addition to sanitation equipment, Monogram was manufacturing temporary production holding devices used to attach unbolted metal sheets to the frames of jets, along with precision sheet metal and containers. A quick and drastic surgical job was essential if the company was to be saved. The container division was eliminated...
...eight Governors to confer with him in San Francisco on Medicaid. Only Michigan's George Romney found it politic to attend, briefly, for the final session. Reagan told assembled health and welfare officials: "Unless Medi-Cal is revised and revamped, it not only can but most assuredly will bankrupt our state." California has a higher proportion of its population on welfare-though not necessarily of the medically needy-than New York State...
Died. Robert E. Woodruff, 83, boss of the Erie Railroad (now Erie-Lack-awanna) from 1939 to 1956; of cancer; in Delray Beach, Fla. "The scarlet woman of Wall Street" was the name for the four-times bankrupt Erie in 1939 when Woodruff, then one of the road's few able executives, took over as a court-appointed trustee. He needed only two years to get the company out of receivership; a year later, as president, he was able to announce a $1 common-stock dividend-first for the hapless Erie in 69 years...
...well that Nasser is no longer infallible, either as a military strategist or as a national hero. Israel still occupies Sinai, and they want to know why. If it were not for the prospect of aid from oil-rich Arab neighbors, Egypt's economy would be bankrupt. All in all, times are tough for Gamal Abdel Nasser, who promised his country glory but gave it only gore...
...could find it. At 22 he was elected to the state house of representatives-although his political career was damaged when in a burst of rage he shot a local politician in the leg. Pulitzer paid his $100 fine and went back to journalism. At 31, he bought the bankrupt St. Louis Dispatch, merged it three days later with the smaller Post. He shocked St. Louis by lambasting its leading families for undervaluing property in order to avoid taxes. He accused gas and insurance companies of fraudulent practices. "The crusade," writes Swanberg, "was simply the Pulitzer personality expressed in print...