Word: corp
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Dates: during 1960-1969
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...WATSON JR. Chairman of the Board IBM Corp. New York City...
UNIVERSITY OF MICHIGAN Clarence L. ("Kelly") Johnson, vice president for advanced development projects, Lockheed Aircraft Corp., designer...
...Government often uses its vast powers to restrain big companies and give the smaller fellows a lift. But last week, as the federally sponsored Communications Satellite Corp. sold its first 5,000,000 shares (at $20 apiece) to U.S. communications companies, executives of American Telephone & Telegraph Co. were pleasantly surprised by the size of their allotment: 2,895,750 shares. That will give A.T. & T. by far the largest stake-a dominant 29% ownership-in the space company, which will transmit television programs, telephone calls and telegraph messages...
...demand, brokers will limit purchases by individual customers to 50 shares or less, and then the shares will be traded on the New York Stock Exchange. The public will elect six directors. But small shareholders seldom take the initiative to put up a slate; the public directors of Comsat Corp. will probably be nominated by the Government-appointed organizers of Comsat. It thus looks as if the commanding voices in the new space communications company will belong to President Johnson and A.T. & T. Chairman Frederick Kappel...
...first man outside the Olivetti family ever to head it. He is Bruno Visentini, 54, the vice president of Italy's huge, state-owned industrial holding company, I.R.I. (TIME, March 27). Visentini's main task is to strengthen the position of Olivetti's U.S. subsidiary, Underwood Corp., which has not kept up with its U.S. competitors. In addition, Olivetti (1963 sales: $360 million) is troubled by import restrictions in its sizable Latin American market. Visentini, a lawyer well-connected with Italy's center-left government, will also try to fight off recurrent threats of nationalization...