Word: belled
(lookup in dictionary)
(lookup stats)
Dates: during 1940-1949
Sort By: most recent first
(reverse)
...months ago the University of Buffalo awarded its Chancellor's Medal to the president of Bell Aircraft Corp. with an impressive citation: "Lawrence Dale Bell. . . . You have won undisputed leadership in your chosen calling and have dignified Buffalo in the eyes of the world...
...eyes of his stockholders, however, Larry Bell, 53, was not an undisputed leader. They had been satisfied with the way Founder Bell had built up the company from virtually nothing in 1935 into a major producer of war planes and equipment. They were pleased when it emerged into the postwar period with a net worth of some $19,000,000, delighted when Bell voluntarily slashed his salary from a peak of over $100,000 to $55,000 a year...
...some of them were shocked when the Bell-controlled board of eleven directors awarded him 1) a five-year contract at a minimum of $55,000 a year; 2) a $160,000 annuity which would add some $10,000 to the $18,000-a-year pension which he is slated to receive at 60; 3) a royalty of $5 for each unit sold over 5,000 of a motorized wheelbarrow that Bell invented. The directors also set up a stock option plan for Bell to buy up to 50,000 shares of common at prices as low as half...
Many stockholders immediately let out a bellow against Bell. Loudest came from Wall Streeter Jackson Martindell, whose company, Fiduciary Management, Inc., owns or controls 14,300 Bell shares. So Bell dropped the stock option plan. With Edward R. Stettinius Jr., Martindell set up a committee to oust seven of Bell's board, charging Bell was not entitled to the benefits...
...proxy fight raged, Bell employees and the Buffalo Chamber of Commerce stoutly supported Larry Bell against "the threat of Wall Street domination." Actually, the best arguments for both sides were indisputable matters of fact. Last year Bell Aircraft had an operating loss of some $2,300,000 (reduced by tax carry-backs to $657,900), which would hardly warrant any new boosts for Bell. On the other hand, the company now has a backlog of $23,600,000, is in production on its new helicopter. It hopes to turn out 500 of them this year...