Word: coalman
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...repercussions were greater than even Miller could have anticipated. Last July, Australia decreed that all coastal tankers would have to be Australianbuilt and Australian-manned, limited the total number of coastal tankers to twelve, and allotted three of them to Coalman Miller. As a result, the oil companies will be forced to spend an extra $4,500,000 annually on tanker operating costs, another $2,500,000 to bring crew accommodations up to Australian standards and $42 million on new Australian-built tankers-in addi tion to channeling some of their business to Millers ships...
...Eyebrow for a Toupee. A strapping man (6 ft. 2 in., 190 Ibs.) who is called "Cupey" by some friends because of his bald head and cherubic face, George Love never set out to be coalman or auto magnate. After Princeton and Harvard Business School, he became a bond salesman in Chicago and St. Louis, but left to run three family coal mines outside Pittsburgh. He did well enough to be offered a Consol job by George Humphrey, who was then heading Consol for its principal shareholder (now 21%), M. A. Hanna Co. Love succeeded Humphrey as president...
...president (TIME, Aug. 4), they gave him only one-third of the corporate power. Last week the other two-thirds was given to Executive Committee Chairman George Hutchinson Love, 61, who, as chairman of Pittsburgh's Consolidation Coal Co., is also the nation's biggest coalman. Chrysler's directors turned to Love because he is a proven comeback champion (his Consolidation is highly profitable despite the slump in coal). New Chairman Love will make policy and wield virtually the same powers as did former Chairman Lester Lum Colbert; Townsend will boss day-to-day operations, much...
...hard to find. Occasionally, the auctioneer knocks down a real bargain: Sherluck, winner of this year's $148,650 Belmont Stakes, sold as a yearling at Saratoga in 1959 for $10,500. At the same sale, fleet-footed Globemaster, best U.S. three-year-old, was purchased by Pittsburgh Coalman Leonard Sasso for $80,000, has repaid Sasso with $300.000 in prize money. With a few such exceptions, buying yearlings-which are a year away from any track-is a risky proposition. Training injuries and illness are common among thoroughbreds, and even a well-blooded yearling, says one longtime owner...
...Executive Vice President Harry Winston Bradbury, 62, a British-born career coalman, was elected president of Pennsylvania's money-losing Glen Alden Corp., biggest U.S. producer of anthracite (1957 sales of $62 million brought a net loss of $3,494,000). He replaces Francis O Case, 63, inactive since April, when Bradbury moved in from the presidency of Lehigh Valley Coal Co. Case had approved of the plan to merge Glen Alden with List Industries, successor to RKO Theaters Corp. and owner of 38½% of Glen Alden stock. But last week the Pennsylvania Supreme Court enjoined the plan...