Word: corp
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Dates: during 1960-1969
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Third-quarter earnings of Consolidated Foods Corp. soared 13% to 50? per share v. 44? last year. Spurred by what Chairman Neil McElroy called "the rather exceptional progress" being made by Procter & Gamble's Duncan Hines cake-mix sales, P. & G.'s estimated third-quarter sales and earnings were going along at about last year's 5% growth rate...
...this off his chest, General Medaris put away his typewriter and went to work as president of the Lionel Corp.-to make electric trains and perhaps ultimately to land defense contracts from those inefficient businessmen in government...
...serious structural flaws. Weak ened outboard engine nacelles tended to vibrate at high speeds in turbulent air, their intense flutter could destroy a wing. The Civil Aeronautics Board and some quick-tempered politicians had demanded grounding the Electra. Quesada had insisted that while the airlines waited for Lockheed Aircraft Corp. to beef up its Electras' wings (at an estimated cost of $25 million), the planes could still safely carry passengers-at reduced speeds...
...business is conflict of interest, in which an executive divides his loyalty between his own firm and another. The conflict may take the form of slipping some of his firm's business to a relative or profiting from owning (or owning stock in) a supplier. Last week Chrysler Corp.. which touched off the current conflict-of-interest furor by sacking President William C. Newberg for owning interests in suppliers, announced that an investigation has found its present 36 top executives in the clear. Shaken by the Chrysler case, other corporations are anxiously examining their own houses...
...they openly report their involvement to the company and to the SEC, which Chrysler's Newberg did not do. Others believe that it is often in the company's best interest to have their men associated with certain other firms. Donald Power, chairman of General Telephone & Electronics Corp., is also a senior partner in a law firm that does considerable General Telephone business. General Telephone wooed him away from the law firm to become its president, thinks the arrangement is fine...