Word: carrolling
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...head of one of the world's largest insurance companies, I live in a glass house." So last week said a shaken Carrol Shanks, president of the Prudential Insurance Co. What shook Shanks was that his glass wall had been suddenly and rudely pierced by some mighty embarrassing gazes. With the business world still buzzing over Chrysler Corp.'s conflict-of-interest troubles (TIME, Aug. 22), Shanks was shown, in a Wall Street Journal article, to have been the buyer of valuable timberland for Georgia-Pacific Corp., a Prudential borrower and the biggest U.S. plywood producer...
Plastered on $250,000. As top man at Prudential for 14 years, strait-laced Carrol Shanks, 61, has long had official dealings with Georgia-Pacific. The Pru has lent Georgia-Pacific more than $50 million, now finances about a quarter of the company's long-term debt. In turn the Prudential, which owns 90,900 shares of Georgia-Pacific common stock, has profited richly from the company's rapid rise (sales up 281%, profits 1.177% since 1953). In 1956 Shanks became a Georgia-Pacific director...
Countered Prudential President Carrol M. Shanks (TIME, March 18, 1957) last week: "The traditional approach to a retirement program has become inadequate and must be supplemented by some new economic weapon that will allow a retiring citizen to share in the economic growth of the country, and at the same time have some chance of protection against any impact of inflation. The variable annuity is the most promising weapon yet developed...
...their contribution to the local A.I.D. chest from $269,000 last year to $307,000 this fall. So it went in Fort Wayne, Ind., Seattle, Cincinnati, Beaumont, Texas-a total of 162 cities now running 2.3% ahead of last year despite the first-half recession. United Community Campaigns Chairman Carrol M. Shanks confidently predicted that total 1959 giving will easily top the $412 million raised...
...John V. Naish, 50, executive vice president of General Dynamics' Convair Division, moved up to president, succeeding General Joseph T. McNarney. 64, who is retiring (TIME, Jan. 20). Naish, brother of Cinemactor J. Carrol Naish, graduated from Fordham in '29, learned the industry from the bottom (he started as a mechanic) before he joined Convair in 1947, became executive vice president in 1952. ¶Walter A. Haas Jr., 42, vice president of San Francisco's famed Levi Strauss & Co., stepped up to president, succeeding his uncle (by marriage), Daniel E. Koshland, 65. Haas represents the fourth generation...