Word: buying
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Dates: during 1960-1969
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What Money Cannot Buy. Luce and Hadden got together again as reporters for the Baltimore News, but their stay did not last long. They began talking again about "the paper" and finally decided to act. Both 23, they took off for New York with some crude, typewritten dummy sheets for a newsmagazine. Setting up shop in an old remodeled house on East 17th Street, they began to write a prospectus. Luce later recalled that going home one night on the subway "my half-glazed stare fell on an advertisement with the headline, TIME TO RETIRE, Or TIME FOR A CHANGE...
...this magazine has to grind." Even so, declared Hadden and Luce, "the editors recognize that complete neutrality on public questions and important news is probably as undesirable as it is impossible, and are therefore ready to acknowledge certain prejudices." Among them: "Faith in the things which money cannot buy; a respect for the old, particularly in manners; an interest in the new, particularly in ideas...
...descendant of Plain Dealer Founder Liberty E. Holden, had been chafing at the management of the bankers and lawyers who run the six trusts controlling the paper. "They are money people, not newspaper people," he complained. "They wanted to diversify." Then along came Newhouse, who had been trying to buy the paper, off and on, for years. In negotiations that were secret even by Newhouse's ultra security-conscious standards, he finally made a $500-a-share offer. The stockholders, who were dissatisfied with the dividends they were receiving, found the offer too generous to resist...
...Neuroses. The two most generous compliments she ever received came anonymously. In 1961, a nameless but extravagant fan contributed enough money to enable her to buy a 1673 Stradivarius now valued at $12,000. Two years ago, another anonymous admirer shelled out $90,000 for Jacqueline's other Strad-the famous "Davidov," once owned by the 19th century Russian cellist Carl Davidov. "The first has an earthy, peasant sound," Jacqueline says. "The Davidov is fine and clear. The extraordinary thing is that the wood still lives after 300 years...
...parent of CBS's great rival, NBC, has taken over Random House, is also diversifying in other ways (see following story). Time Inc. and General Electric have gone into a fifty-fifty partnership in a new firm called General Learning Corp. Beverly Hills-based Litton Industries plans to buy the American Book...