Word: chesler
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...also raised some eyebrows. In 1941 Chesler turned up as a crown witness in a case involving illegal sales of Canadian government bonds. Actually, Chesler and his firm had been ordered by the Bank of Canada to play along with the hanky-panky to trap the villain...
...Wire & Cable Ltd., and Providence's Grant Money Meters Co. (toll-road coin boxes). Universal estimates that earnings for the fiscal year ending in March will rise 56% to about $3,900,000, or $2 per share. That means Universal stock sells at a steep 48^ times earnings; Chesler's $1,000,000 ante in Universal has zoomed to a market value near $25 million...
Coming to the U.S. in 1956, Chesler bought a major interest in a company, which then acquired the Warner Bros, film library for TV and became Associated Artists Productions Corp. After a boardroom battle, Chesler signed a deal to sell 820,000 shares of Associated to National Telefilm Associates, Inc., though he controlled only 400,000 shares; later Chesler backed off and sold for a higher price to United Artists. To end a court fight, United Artists later paid $2,000,000 to N.T.A. The deal hurt Chesler's reputation on Wall Street-but it did not halt...
Shell Game. Chesler stalked small companies with big potential, accurately sniffed the coming boom in electronics, Florida land, and leisure activities, including horseracing...
...spotted Universal Products Co. early in 1956 when it was a corporate shell with a treasury of $10 million. Chesler took control by putting up $1,000,000, plus $2,500,000 from millionaire cronies such as Baltimore Colts' Owner Carroll Rosenbloom. ("Who wouldn't pay $1,000,000 to get control of $10 million?" asks Chesler.) With Universal's cash, Chesler bought Baltimore's American Totalisator, which owns and leases 80% of the racetrack "Tote" systems that automatically figure and post bets, odds and winnings. By swapping stock, Universal later acquired General Register Corp. (ticket...