Word: bronfmans
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...eight days the agony imposed on one of the nation's wealthiest families was intense. The Edgar M. Bronfmans of New York, whose Seagram liquor fortune and other assets exceed $1 billion, feared that 21-year-old Samuel Bronfman II was buried in a box with a meager ten-day supply of air and water steadily running out. He had been kidnaped, and the kidnapers had demanded a ransom of $4.6 million, the highest ever asked in the U.S. Frantically the family tried to comply, but hitches kept developing. The wait seemed interminable...
...tension finally ended abruptly -and joyfully-at week's end as FBI agents and New York City Police staged a pre-dawn raid on an apartment building in Brooklyn. The lanky young Bronfman, newly graduated from Williams College and about to set out on his first full-time job, was found. He was weary and hungry but well. Two of his abductors were arrested, one at the scene, and police sought others. The FBI recovered the ransom, which had been arbitrarily reduced to $2.3 million by the conspirators. It had been delivered by Edgar Bronfman some 24 hours earlier...
Died. Samuel R. Bronfman, 80, founder and president of Distillers Corporation-Seagrams Limited; in Montreal. Bronfman laid the foundations of his financial empire 54 years ago when he started a mail-order whisky business. Branching out into distilling during Prohibition, Bronfman went on to create the world's largest distillery. At 80, Bronfman still remained the astute chieftain and patriarchal head of a family-dominated firm. "I've set it up better than the Rothschilds," he once said. "They spread the children. I've kept them together...
...former economist at the American Stock Exchange, Kaplan has built a mini-empire based on the exchange of ideas. In 1967 he thought that the influential men who run investing institutions-mutual funds, pension funds, trusts-should have a magazine written specifically for them. With modest bankrolling from Gerald Bronfman (of the liquor family), relatives and friends, he launched The Institutional Investor. "The Double Eye," as I.I.. is dubbed, is now an ad-packed monthly that is sent free to 20,000 portfolio managers and big brokers. The magazine quickly became the foundation for a company, Institutional Investor Systems...
...Aubrey returned to power. Las Vegas Financier Kirk Kerkorian, who a month ago won control of Metro-Goldwyn-Mayer, picked him to be the company's new president to replace Louis ("Bo") Polk Jr., 39, who was fired. Polk had been chosen only last January by Edgar M. Bronfman, whose 16% holding in the company was the largest until Kerkorian bought roughly a 40% share for about $100 million. (Time Inc. owns 5%.) Bronfman and one of three other directors representing his interests quit the 19-man board last week...