Word: corp
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Dates: during 1960-1969
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...onetime Wunderkind of McCarthy-committee fame was accused on seven counts of tampering with grand jury witnesses in order to quash a 1959 indictment against four swindlers in the $5,000,000 stock defrauding of United Dye & Chemical Corp. Cohn faced up to 35 years in prison and $26,000 in fines. During 17 days of testimony by 67 witnesses, two of the swindlers swore that they paid $50,000 to duck indictment, and they said that one-third of the money went to Cohn. Nearing the end of its deliberation, the jury reportedly stood eleven to one for convicting...
...advances of recent years have produced such an array of new building materials that both home buyer and home builder are often confused in making a choice. "There is more competition in the building industry than ever before," says Earl W. Hadland, merchandising manager of Chicago's Masonite Corp. "In outside siding, for example, it's wood v. aluminum v. hardboard v. plywood v. steel...
Great Name. The $16 million purchase of Canada Dry stock followed Simon's typical pattern for takeover of a company (TIME, Aug. 23). He bought the stock through his Hunt Foods, which, in addition to controlling McCall Corp., owns Wesson Oil, Ohio Match, Fuller Paint and a 7% share of Wheeling Steel. Canada Dry is just the kind of company that Simon thinks can benefit from his brand of management, which is devoted to a constant search for change and improvement. "Canada Dry has a great name and a strong brand position," he says, "but earnings are modest...
...Ferro Corp. of Cleveland is the world's largest maker of frit. Frit? Yes, frit. Ferro's main product is a powdery flaked glass that melts at 1,500° heat into the chief ingredient of porcelain enamel, the familiar coating on bathtubs, basins and ceramic tile. Since many appliances are also sprayed with or submerged in frit, Ferro is profiting not only from the U.S. appliance boom but from the rapidly expanding appliance market abroad. This week Ferro announced an 8% gain in first-quarter sales to $21 million; with 1963 sales that hit a record...
...trustbusters moved to dismember a joint chemical subsidiary set up in Pittsburgh by Monsanto Co. and West Germany's Farbenfabriken Bayer, also filed a suit to prevent Manhattan-based Allied Chemical from absorbing General Foam Corp. But their choice target was Humble Oil, Jersey Standard's U.S. operating and marketing subsidiary. Humble planned to spend $329 million to acquire the Western operations of Tidewater Oil Co., which is owned by Jean Paul Getty, the richest living American (approximate wealth: $1 billion), and run by his son, George Getty II. The takeover would bring Humble one refinery, five supertankers...