Word: broker
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Dates: during 1960-1969
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...other interests and is anything but a campus misfit with a guitar. Bob Burnett, 21, friendly, eager, misleadingly slight of build, is Wesleyan's pole-vault champion (his record: 12 ft. S in.), vice president of the student government, and an outstanding scholar. Son of a Boston investment broker who also runs a cemetery in Mystic, Conn., he is majoring in government and wants to be a lawyer. Last summer he went to Nigeria under a program called Operation Crossroads, showed Nigerians how to make cement blocks and helped them build a community center. Steve Trott, 21, tall, handsome...
...selling, giant Montgomery Ward & Co. made a proposal to gregarious Sol William Cantor, 50, president of the 63-link Interstate Department Stores, whose annual sales rate has climbed from $90 million to $175 million since it entered discounting in 1959. With Wall Street's Lehman Bros, playing marriage broker. Ward's intends to pick up Interstate in a $50 million stock swap. The deal makes eminent sense to Manhattan's Cantor, who gives plenty of local autonomy to managers of Interstate's 42 standard department stores, but holds "a tight rein" on its 21 discount outlets...
...Partners. The Empire State deal is typical of Lawrence Wien's style of operating on high-rent turf around the country. Columbia-educated, Wien got into commercial real estate in 1949 when he gathered a small group of investors to buy a two-story building for $165,000. Broker on the deal was Harry B. Helmsley, chief of the Manhattan broker-management firm of Helmsley-Spear. Wien and Helmsley have been allies ever since, have parlayed their original venture into a $600 million real estate empire that includes New York's plush Plaza hotel and the more plebian...
...because 50% of AmSeCo's production each year is shipped in the summer months to meet the fall openings of schools, churches and theaters. (In 1960, with first-half sales of only $15.9 million, the company wound up the year with a record $42 million.) One Wall Street broker estimates that AmSeCo's earnings ($2.77 per share last year) will hit $3 this year and $3.70 next...
...Panair do Brasil away from Pan American World Airways. Though Pan Am retained its 30% holdings in Panair, Miranda bought up the other 70%, mostly from Panair's Brazilian directors, for an estimated $5,000,000. A self-made millionaire-he is Brazil's biggest insurance broker-elegant Celso Rocha Miranda has ordered eight French Caravelle medium-range jets to put his new enterprise on a competitive footing with rival Brazilian airlines Varig and Real...