Word: clint
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Funny Question. Murchison extends the same open-shirted informality to his business. One sure laugh at stockholder meetings of his key Delhi Oil Co. is provided by a stockholder, a mailman who has made a small fortune. He plaintively asks the same question year after year: "Clint, when you goin' to pay a dividend?" Delhi stockholders, who get few dividends, can afford to guffaw at this. They all know that Murchison is interested not in dividends but in piling up the lower-taxed capital gains. He achieves them for himself and his stockholders by "spinning" new companies...
...When he figures a deal is right, he will not quibble about terms. One time when Murchison was trading some life-insurance and oil properties with a partner named Toddie Lee Wynne, they were $498,000 apart on price. They flipped a coin for the difference. Wynne won. But Clint made a fat capital gain anyway...
...Delhi), has not even set foot in many of their offices. (His only advice to Henry Holt was that it should publish a book on gin rummy.) He leaves all the details to a crack team of young financial brains headed by his sons John Dabney, 32, and Clint Jr., 30, along with James H. Clark, 45, a former executive in a Chicago firm of management consultants. Around Dallas, they are known as "Clint's Whiz Kids...
Skunks for Sears. Murchison got his start in business as a boy in Athens. His parents were of Scotch Presbyterian pioneer stock and, for Athenians, fairly well off; his father was head of the First National Bank. Nevertheless, young Clint, the second of nine children, used to get up at 3 a.m. to run a trap line for coons and skunks, sold the pelts to Sears, Roebuck...
...special class, where he was made to do sums in his head. The lessons stuck, and he now astounds people with his memory for figures and lightning-like calculations. Schoolmate Sid Richardson, who is five years older, spent his spare time trading cattle. Sid taught Clint so much about cattle trading that Murchison was able to run a crippled heifer into $1,500 by the time he entered Texas' Trinity University...