Word: buying
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Dates: during 1960-1969
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What made the matter more complex was that Tino by then had grown so cocky and creative that he bypassed even the lax warehouse inspectors, forged some of his own receipts. By mid-1963, he had contracted to buy 20,000 tank cars of oil-an astonishing 1.2 billion Ibs., worth about $120 million. With every 10 shift in price, he stood to gain or lose $12 million...
Assist from the Soviets. For a time it seemed that the gamble would pay off. The market soared, thanks to De Angelis' big buying and an assist from-of all people-the Communists. Russia was clamoring to buy U.S. wheat, and when reports hit Wall Street that the Soviets' sunflower crop had also failed, rumors flared that the Russians would soon be shopping for U.S. vegetable oil. In six weeks during the autumn of 1963, soybean oil climbed from 9.20 per Ib. to 10.30. But on Nov. 15 the market cracked-and so did Tino...
...repeatedly, with particular focus on the futile firebrand of Ghana, Kwame Nkrumah. Charging that Nkrumah has bankrupted his nation for his own political ends, Upper Volta's President Maurice Yameogo drew cheers with his acid observation that "in Ghana you have to stand in line nowadays to buy a box of matches." Should Nkrumah lead a Pan-African government? Chortled Yameogo: "How can he expect to extend that to the rest of Africa when he has lost the allegiance of his own people...
Simon's advertising led to his first major acquisition. The Ohio Match Co., which was churning out millions of matchbooks with Hunt recipes on the cover, seemed to Simon worth more than its stock was selling at. He began buying in, got controlling interest in 1946 by snapping up a 20% block of Ohio stock that the bigger Diamond Match Co. had been forced to surrender by federal order. From matches Simon turned to railroads, using Ohio Match money to buy a substantial block of stock in the Northern Pacific Railway...
Unable to buy more stock because of skyrocketing prices, Simon turned around and sold Ohio's share for a $2,800,000 profit. He put his oil profits into cottonseed oil, in 1946 acquired New Orleans' Wesson Oil for $76 mil lion. He quickly doubled its size, strengthened its marketing and distribution systems...