Word: co
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Dates: during 1950-1959
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Into the Money. After war's end, the Wall Street investment firm of Kuhn, Loeb & Co. astonished Lewis Strauss by offering him a job at a five-figure starting salary. A Kuhn, Loeb partner, passing through Hoover's headquarters in Paris, had spotted Strauss as a truly promising young man. He was right. Sometime Shoe Salesman Strauss prospered spectacularly on Wall Street, pushed Kuhn, Loeb into highly profitable steel-company financing (Inland, Republic, Great Lakes), became a full partner at 32, piled up a fortune...
Japan's fast-growing electronics industry scored a notable success. Under a threeyear, $8,000,000 contract, Tokyo Shibaura Electric Co. began turning out upward of 75,000 transistor radios, 800,000 transistors, and 1,000,000 vacuum tubes annually for International General Electric, to be resold under the I.G.E. name in Europe, Asia and Africa. I.G.E. was the second major U.S. electronics company to decide to make a deal this year with the Japanese. In April Motorola put on sale in the U.S. a $29.95 shirt-pocket-size transistor radio with most of its parts made in Japan...
After five years, the Prudential Insurance Co. last week won a major victory in its campaign for variable annuities, a new type of insurance designed to protect policyholders against inflation. Under the plan, annuity payments vary according to the price of common stocks in which premiums are invested, a sharp contrast to conventional annuities, which guarantee fixed payment based on traditional insurance company investments, such as mortgages...
...faced strong opposition against variable annuities from top-ranking Metropolitan Life Insurance Co., the New York Stock Exchange and mutual funds. They charged that the new policies will change the traditional insurance concept of providing a fixed return on investments. and will put insurance companies in the securities business...
Died. John Cromwell Lincoln, 92, founder (1893) of Lincoln Electric Co., one of the world's largest welding-equipment manufacturers, inventor who took out more than 50 patents for electrical devices, owner of a real estate empire reputed to be worth $100 million, pamphleteer who promoted the single-tax ideas of Henry George and ran for U.S. Vice President in 1924 on the single-tax platform of the Commonwealth Land Party; in Scottsdale. Ariz...