Word: corp
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Dates: during 1960-1969
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...future on a budget that tops $7,000,000 a year. The armed forces have long been in the future business. The Air Force, at Wright-Patterson A.F.B., conducts studies of the whole problem of scientific prediction, also contributes $15 million a year to Santa Monica's Rand Corp. to think-and not necessarily about weapons systems. The nonprofit Hudson Institute investigates the possibilities of war and peace along with the future in general. At the University of Illinois, Dr. Charles Osgood is conducting a "computerized exploration of the year 2000," and the Southern Illinois University is providing money...
...president of General Motors Corp. from 1923 to 1937, as board chairman until 1956 and as G.M.'s still active honorary chairman until the day of his death, at 90, last week, Sloan was a towering figure of U.S. industry. Under him, G.M. grew from a frail follower of Ford into the world's largest and most profitable corporation. As much as any other individual, Sloan shaped the auto industry, which itself reshaped the entire U.S. economy and, in Sloan's words, changed "the pace and style of everyday life in America...
...best of all Sloan's bearing customers was William Crapo Durant, who was trying to assemble a motley collection of auto companies into a corporation he called General Motors. Durant was also tying his suppliers together as United Motors Corp., bought Hyatt for $13.5 million as part of United. Durant had taken such a fancy to Sloan that he hired him to become United's president. United was eventually merged into General Motors and Durant was ousted by the Du Pont family, already large G.M. stockholders. New President Pierre S. Du Pont asked Sloan to stay as operations...
Such fiscal flexibility is only what the financial community has come to expect of Lehman. In the principal business of investment banking-raising funds from the public through new corporate stock and bond issues-Lehman runs second (behind First Boston Corp.) with $1.7 billion of underwriting last year. Lehman partners and associates sit on the boards of more than 100 big U.S. corporations, including General Motors, RCA, Pan American Airways, Tidewater Oil, American Express and United Fruit. Altogether, Lehman Bros, guides or controls the investment of $2 billion of other people's money-more than any of its rivals...
...share. Last week, after three splits and seven stock dividends, each of those 75,000 shares was worth $737-though the firm has by now sold some of them. Lehman has also enhanced its growth and prestige by creating two of the largest U.S. investment trusts: Lehman Corp. (assets: $441 million) and the One William Street Fund (assets: $247.5 million). Beyond these, Lehman Bros, operates an Investment Advisory Service for blue-chip clients (minimum account: $500,000), who pay a minimum of $2,500 for its advice. The service has grown rapidly into the largest (more than $1 billion...