Word: businessmen
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Dates: during 1950-1959
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...Passed, after a long and lackluster debate, a bill raising the U.S. minimum wage from 75? to $1. The 362-54 vote came over Administration objections that a minimum wage of more than 90? would work a hardship on some small businessmen with narrow profit margins. If signed by the President, the bill (already approved in much the same form by the Senate) may give pay raises to some 2,000,000 workers...
Like many businessmen going into Government service, New York's Harold Elstner Talbott Jr. gave up a good deal to join the Eisenhower Administration as Secretary of the Air Force. He sold his stock holdings (more than $700,000 worth), resigned as director of Chrysler Corp., cut all his business connections except one: half ownership of Mulligan & Co., a small Manhattan firm (15 employees) engaged in clerical-efficiency studies. Last week that side interest had Harold Talbott in trouble...
...BUSINESSMEN VOLUNTEERS, who serve in Washington without pay, will continue to hold down key jobs in the U.S. Government, but with restrictions on their power. The Senate voted down a proposal to oust private businessmen who serve without compensation (WOCs) while still drawing corporate salaries. But both the Senate and a House committee have agreed on the principle that no WOC serving as a division chief may decide matters of policy, must turn them over to a full-time official...
...phrase is gathering new meaning among U.S. businessmen. The phrase is "company raiding," but very few businessmen agree on a precise definition. Originally, the term was coined in the robber-baron days of the late1800s and bore connotations of watered stock, rigged markets, stolen company assets. Today, some businessmen use the phrase to describe shrewd investors who snap up an undervalued company with the idea of liquidating it for a quick profit; others apply it to investors who take over such firms and ram through drastic changes to improve the properties and turn in bigger profits. The phrase has been...
Behind the scenes, hundreds of other companies-in every industry-are changing hands. They are being taken over by a new breed of profit-minded investors, who are dissatisfied with professional managers (often owners of only a small stock interest) and want to direct the firms themselves. To some businessmen the new trend is bad; they call such investors "destructive opportunists," "mortuary millionaires" who kill off companies to pocket their assets. But to a good many other businessmen the take-over trend is all to the good. They argue that it is sparking a resurgence of stockholder interest in management...