Word: buying
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Dates: during 1960-1969
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...congressional controversy. Almost from its inception the supersonic bi-service jet has been opposed by Arkansas' Democratic Senator John L. McClellan, who calls it a "multibillion-dollar blunder." Largely as a result of McClellan's jeremiads, Defense Secretary Robert McNamara's request for $287 million to buy 20 F-lllBs for Navy testing was rudely rejected by the committee, which approved only $147,900,000 for eight of the swing-wing ships. The higher cost per plane includes design changes and ground-support gear as well as custom fabrication of the plane itself...
...stockholder who disagreed with Levin was Edgar Bronfman, who bought into MGM and then sold off his holdings in 1966 on a misplaced hunch that if Levin's proxy battles failed, the stock would settle down in price. After the last proxy fight, Bronfman began to buy back in. He had acquired over 400,000 shares when he was approached this summer by Levin, who wanted to buy Bronfman's stock or get his aid in another proxy fight. When Bronfman refused both propositions, Levin decided to sell. He will make a pre-tax profit of more than...
...various national publications was right in step with current events. To illustrate Black Chicago, a history of the city's Negro ghetto from 1890 to 1920, a cop was shown clubbing a group of Negroes. Just the thing to cause a concerned citizen to rush right out and buy the book. But wait a minute. Wasn't that an unusual cap the policeman was wearing? The Chicago police department thought so. None of their men wore it. Chicago Daily News Columnist Virginia Kay was also puzzled. She did some checking and printed the results. The officer, she said...
...Gulf & Western Industries, having further broadened its diversified operations (auto parts, mining, chemicals) by acquiring Paramount Pictures last year, moved into consumer products for the first time by reaching an agreement to buy out Consolidated Cigar, the nation's biggest cigar maker (Dutch Masters, El Producto, Muriel), in a $150 million stock swap. At the same time, Gulf & Western's young (40), acquisitive chairman, Charles Bluhdorn, sweetened his company's stock offer for E.W. Bliss Co., an Ohio-based tool-equipment manufacturer that, like Consolidated, had 1966 sales of about $158 million. If the Bliss deal goes...
...hours, its board replied with a blunt rejection of the L-T-V offer, announced that "shareholders will be far better served" by a possible merger in the works with General Dynamics. Ling, back in Dallas by now, was unfazed. He merely uncorked "Plan B"-a new offer to buy all of the stock for a mix of cash plus two classes of L-T-V shares worth, by LTV's estimate, around $55 per share of Allis-Chalmers' common. Moreover, he promised Stevenson and six other directors spots on LTV's board, said that Allis-Chalmers...