Word: cohn
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When Manhattan Lawyer Roy Cohn turned up as head of an investors' group that took control of the money-losing toy train company, Lionel Corp., last fall, Wall Streeters wondered how he had financed the deal. Last week a Lionel Corp. proxy statement revealed that Cohn, onetime chief counsel of the late Senator Joseph McCarthy's Subcommittee on Investigations, was no babe in the jungles of high finance...
...Corp. from 1946 until last fall, was named chairman and chief executive officer of Schick Inc., makers of electric shavers. Cowen, who bought a seat on the New York Stock Exchange at the age of 21, was ousted from Lionel when a new group led by Lawyer Roy M. Cohn took control of the company founded by Cowen's father (who gave his middle name, Lionel, to the toy electric trains he created). At Schick, Cowen succeeds Chester G. Gifford, who took over as Schick chairman in November 1958 when Revlon President Charles Revson bought a controlling 20% share...
Divorced. By Joan Cohn Karl, 45, widow of Cinemogul Harry Cohn: Shoe Magnate Harry Karl, 45; separated after 23 days of togetherness (her $110,000 settlement amounts to $4,782.61 a day); in Santa Monica, Calif...
...Payoff. Meanwhile, other former contestants began to sing. Manhattan Adman Arthur Cohn Jr. recalled his appearance on The $64,000 Challenge. At a warmup, said Cohn, his opponent came out of a private session with Associate Producer Shirley Bernstein (sister of Conductor Leonard Bernstein), positively popping with both questions and answers. Disgusted with what he was convinced was a fraud, Cohn took his beating, complained to the show's sponsor (Revlon), and insisted that his $250 consolation prize be donated to charity...
...Dough Veteran Richard Clark was even angrier than Cohn, and for a different reason. In his 1958 appearances on the air, Clark won $22,500, but the producers' admission that the show was crooked, said he, has damaged his reputation. Reason: his friends will not believe that he was not in on the fix. He filed a $500,000 suit against NBC, the show's producers (Barry & Enright Productions) and the sponsor (Procter & Gamble). What's more, argued Clark, his eye on an even bigger payoff, the fix cost him a possible $40,000 in winnings...