Word: co
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Dates: during 1950-1959
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...Merrill Lynch Co. Co-Founder Edmund C. Lynch died in 1938; Partners Edward A. Pierce, 82, and Charles Erasmus Fenner, 82, are still in the firm...
...Tractor. He soon caught the fancy of Co-Founder Charles E. Merrill, himself an Amherst man, and rose fast from salesman to bond department manager to sales manager. Carrying out Charlie Merrill's expansion policies, Win Smith in 1940 initiated and was a chief negotiator in the merger with E. A. Pierce & Co., was made managing partner of the joint firm. A year later he helped bring Fenner & Beane into the combine. From 1944 onward, Smith really ran the company for ailing Directing Partner Merrill. When Merrill died * (TIME, Oct.15, 1956), Smith took his title...
Good Year Ahead. Last week, vacationing at his small, four-room, co-op apartment at Delray Beach, Fla., Smith said he will now relinquish most of his everyday managing duties, concentrate more on long-range planning and policymaking. Cheered by the stock market's quick snapback and high volume of trading last week (see State of Business), the top man in Wall Street's top brokerage house saw a good year ahead for M.L.P.F. & S. Said he: "Company after company is going to need more money to expand, and they will have to come to Wall Street...
...welfare and pension programs than is being stolen." The foundation has already shown that a welfare fund can save thousands of dollars simply by smarter management, e.g., competitive bidding on health-insurance contracts. Corporations have also been at fault. Vice President Frank B. Cliffe, of H. J. Heinz Co. and pension expert for the U.S. Chamber of Commerce, lays heavy blame for abuses in jointly run welfare plans on neglect by management, which "thought its obligations ended with the payment of its contributions...
...nearly two months, gas pipeline rate increases have been held up because of an appellate court decision in a case involving the city of Memphis and the United Gas Pipe Line Co. of Shreveport, La. (TIME, Dec. 23). Last week FPC decided to grant boosts despite the ruling that pipelines may not raise their rates unless their customers agree, a decision that cast doubts on the legality of $200 million in recent increases. FPC now authorized the El Paso Natural Gas Co. to put into effect a $16.5 million rate increase, provided that it posts a bond for that amount...