Word: becks
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Dates: during 1950-1959
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...last week Roy Fruehauf was con fident that with Beck's help he had 55% of the 1,459,614 outstanding shares of stock on his side, felt assured of victory at the stockholders' meeting...
Since he owns only 2% of the stock himself, Roy Fruehauf looked for allies, but could not quite line up a majority of the stock. In the pinch, he turned to Seattle's Dave Beck, pink-faced boss of the A.F.L. International Brotherhood of Teamsters. Beck agreed to help, bought 37,500 shares of Fruehauf stock in the open market for about $950,000. But all voting rights and dividends were turned over to the Roy Fruehauf Foundation, Inc., which was incorporated in 1950 as a tax-free foundation to breed lead dogs for the blind. In effect, says...
Nobody will say how much more stock Beck will buy, but the investment is eventually expected to run upwards of $1,200,000. Both the foundation and Roy Fruehauf personally guaranteed the teamsters 4% for their money. Explained "Banker" Beck: "We've got more than $29 million in the union kitty, and we're going to put it where it will provide the best return to serve the cause of responsible trade unionism ..." The Fruehauf deal, Beck believes, com bines good investment sense with good unionism. He likes the way Roy Fruehauf has fought for uniform truck...
...report continued, "the measure of Communist success is minor when related to the many thousands of loyal American teachers who have refused to become robots or mechanical rabbits at the beck and call of the conspirator...
SIGNING of a "no-raiding" pact this week by the C.I.O. and the A.F.L. presidents does not necessarily mean union peace. C.I.O. chieftains have agreed to sign on the condition that their opposite numbers in the A.F.L. sign also. In many cases this means Dave Beck and his big (1,000,000 members) Teamsters Union. But Beck has no intention of signing in a hurry, may never sign...