Word: chaining
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Dates: during 1960-1969
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Boxing Lessons. That is the only struggle of note that Pierre Trudeau has experienced. He grew up in the affluent Montreal suburb of Outrement, the son of a self-made millionaire whose empire included an auto-breakdown service and a chain of gas stations. (Today, the family fortune is estimated at $7,000,000.) Young Pierre was driven to school by a chauffeur, as a boy was given private boxing lessons "because I was quite a puny child." Trudeau's father died when he was 14, and the loss saddened him for years. He went to a Jesuit college...
...stores will be hard pressed to match President Byron Jay's own express checkout. Three weeks ago, only 13 months before reaching A. & P.'s mandatory retirement age of 65, Jay ended a 41-year, up-from-clerk career with the nation's biggest food chain by 1) chucking the $151,000-a-year job he had held since 1964 and 2) packing himself off to deep seclusion...
...their annual meeting in Manhattan, A. & P. was in a first-rate tempest. With their stock crushed down from its 1961 peak of $70 (it closed last week at $26.75), A. & P. shareholders have long been restless over the company's declining (now 18%) share of grocery-chain sales. Last year its profit of $56 million (on sales of $5.4 billion) was off a bit from the previous year, despite Jay's robust prediction that earnings would be "running at a record pace...
Costly Distinction. Such steps have yet to fatten A. &P.'s slim profit margin, which, at 1% of sales, is far narrower than the 1.5% achieved by Safeway, the second-biggest chain. Many stockholders, particularly heirs of Founder George Huntington Hartford, who started the chain 109 years ago, place much of the blame on a foundation set up by Hartford's sons, John A. and George L. Hartford, which holds the biggest single block (34%) of A. & P. stock. They maintain that the management-dominated foundation (eight of ten trustees are present or past A. & P. executives...
...Beverly Hills-based Home Savings & Loaji Association, which, with assets of $2.5 billion, is nearly double the size of its nearest rival. Ahmanson built it from a single Los Angeles S & L he picked up in 1947 for the fire-sale price of $162,000. All told, the chain now serves some 775,000 depositors at 32 branches, takes in $1,000,000 a day in new deposits...