Word: boardrooms
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Dates: during 1950-1959
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Coming to the U.S. in 1956, Chesler bought a major interest in a company, which then acquired the Warner Bros, film library for TV and became Associated Artists Productions Corp. After a boardroom battle, Chesler signed a deal to sell 820,000 shares of Associated to National Telefilm Associates, Inc., though he controlled only 400,000 shares; later Chesler backed off and sold for a higher price to United Artists. To end a court fight, United Artists later paid $2,000,000 to N.T.A. The deal hurt Chesler's reputation on Wall Street-but it did not halt...
...Chairman Lewis Gruber, 63, rescued his aged (founded 1760), slipping company by gambling heavily on smokers' future desires. He changed the filter and blend of Kent cigarettes to cut down tar and nicotine and -as he says in the kind of phrase that sounds snappy around a boardroom table -give smokers "less of the things they have been smoking filters to get less of." Result, in the statistics that look wonderful on a boardroom chart: Kent's domestic sales zipped from 3.4 billion to 36 billion a year; Lorillard's stock went from...
...Nikita Khrushchev's desk was an ear of American corn, sent him by a U.S. seed company. On the nearby boardroom-type table were two bottles of mineral water: one from the North Caucasus, one from the South Caucasus. Khrushchev, wearing two Orders of Lenin medals on the left lapel of his dark suit jacket, waved his visitor to a chair at the table, took another for himself. "What," he asked, "would you like to discuss?" Replied Minnesota's endlessly ebullient, hardheadedly liberal Democratic Senator Hubert Humphrey: "Many things." And for 83-hours last week Nikita Khrushchev...
...Rides Again? Last week, presumably weary of the boardroom battle, neutral Director Reid resigned his umpire's job. With him went two other directors. General Dynamics' President Frank Pace Jr. and Manhattan Attorney George A. Brownell,* both of whom have voted with President Vogel. Appealing to his stockholders for help, embattled President Vogel warned that the dissidents planned to put Contractor Tomlinson in as Loew's chairman, with TV Man Meyer as president. He also charged, as a final shot, that the man behind it all was none other than longtime M-G-M Mogul Louis...
...Economist Gaitskell's program is "deliberately designed to have the minimum of eventual real effect, while instilling the maximum of interim uncertainty in every boardroom in the country...