Word: co
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Dates: during 1960-1969
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Forum for Attack. Then, for the first time, the defendant had his say. Clay Shaw, 55, a white-haired, deep-voiced bachelor who has lived under accusation and innuendo for the past two years, calmly denied any part in a conspiracy or acquaintanceship with either "co-conspirator." Did he have any ill feelings toward Kennedy? "Certainly not," replied Shaw, adding that he had admired and voted for the President...
...Westlake, Calif., a new community developed by the American-Hawaiian Steamship Co. 38 miles northwest of Los Angeles, home prices stretch from $28,000 to $75,000, and fewer than 20% of the people who work in Westlake's industrial park, mostly at skilled or white-collar jobs, live in town. Columbia, Md., a new town developed by the Rouse Co. midway between Bal timore and Washington, has succeeded in attracting blacks, who constitute 15% of the city's current population of 4,000; but its architecture tends to be pedestrian, and most residents still work elsewhere. Reston...
Many other makers of conglomerates have joined Miller, Bluhdorn and Ling in that elite group of American businessmen who have boosted their sales to more than $1 billion a year. Henry E. Singleton, a Ph.D. from M.I.T., has built Los Angeles' Teledyne Co. into a $1 billion conglomerate in eight years by moving into metals, electronics and defense systems...
After Gulf & Western was blocked by the Justice Department from taking over Armour & Co., Charlie Bluhdorn attempted to resell his 750,000 shares to the meat packer for about $60 per share. He thought he had a deal?and an $18 million profit?but Armour Chairman William Wood Prince tried a squeeze play to drive the price down to $50. His method was ingenious. Armour made a public offer to repurchase 20% of its own outstanding shares at $50 each. If successful, the move would have increased Bluhdorn's stake in Armour from 9.8% to 12½%, thus making Gulf & Western...
...often grab control of other companies at little or no real cost to themselves. For example, Victor Posner, Miami conglomerator who has plucked a personal fortune from slums and money-losing corporations, has just captured Sharon Steel (annual sales: $225 million) after a bitter battle. Posner's NVF Co., a Delaware mini-conglomerate (annual sales: $30 million), offered a package of debentures and warrants backed by so few assets that Sharon accused him of planning to raid its coffers to bail NVF out of financial trouble. Even Posner's prospectus admitted that the combine might well earn too little money...