Word: borge
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Dates: during 1960-1969
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Growing Nest Egg. The Goldwater gold was mined mainly from two mother lodes: the Goldwater-family retail stores; and Chicago's Borg-Warner Corp., where Peggy Goldwater's father, R. P. Johnson, was a vice president and director until his death...
...York's Associated Dry Goods Corp. for $2,200,000 worth of Associated stock. Barry's share was about 20%. His common stock holdings now include 7,555 shares in Associated Dry Goods (worth $445,700), 973 shares in Arizona Bancorporation ($20,400), and 90 in Borg-Warner Corp. ($4,320). He has life insurance with a cash value of $20,000. And he also has $37,000 cash on hand, a sizable chunk of which is earmarked to pay for the proud wedding he put on for his daughter Peggy last June. Thus Barry's personal...
...meetings and in personal phone calls to such executives as A. T. & T. Chairman Frederick R. Kappel and New York Stock Exchange President Keith Funston, Johnson has appeared a friendly, conservative Chief Executive who understands business. It is not unusual to hear from businessmen comments such as those of Borg-Warner Vice President Judson Sayre: "You get sold on Johnson. If he conducts himself with not too many blunders between now and November, I'd vote for him -and I've never voted for a Democrat in my life...
Promising to clean an 8-lb. load of clothes for $1.50 to $2, they were expected to be just as successful. The Norge division of Chicago's Borg Warner Corp. got into the market early and now has 50% of it. Soon 32 other firms followed-including G.M.'s Frigidaire, Whirlpool, Westinghouse, Philco-and the competition was on. Most of the machines were sold not to established and experienced drycleaners, but to investors who swallowed the high-powered promises of "profits while you sleep." Hard-talking salesmen urged investors to take out 90% loans on equipment worth...
Tangible Proof. Businessmen who feared that the stock market's summertime drop heralded a recession seem almost astonished at how good business has remained. "It's still hard to believe," says Borg-Warner Chairman Robert Ingersoll, "but it looks like another good year." Noting the sharp change in the business climate since last summer, General Electric Chairman Ralph Cordiner says: "In mid-June through October, the economy seemed to be geared to the stock-market reaction, and people apparently lost their confidence. But that seems to be behind us now." Samuel A. Groves, president of Boston...