Word: corp
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Dates: during 1960-1969
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High Price. One big incentive behind the hunt for Big Daddy is the price on his head. Miami's Tycoon/Fin-Nor Corp. will pay $5,000 to the first angler who lands a 1,000-lb. blue marlin on its fishing tackle; there is another $1-per-lb. reward if the fish is caught off the Virgin Islands, and $10,000 if it is boated off Puerto Rico...
Lockheed Aircraft Corp.'s C-5 Galaxy military transport measures barely 10 yds. shorter than a football field, sports a tail assembly as tall as a six-story building, and has a cargo compartment that is longer than the Wright brothers' first flight off the side of North Carolina's Kill Devil Hill sand dune. And it flies. At Georgia's Dobbins Air Force Base one morning last week, following an overnight postponement because of last-minute technical problems, the first C-5 lifted gently off the runway for a 94-minute test. Aside from some...
Directors of Wards and Container Corp. of America, the largest U.S. producer of paperboard packages (1967 sales: $463 million) agreed to wrap their fortunes in the same carton by forming a holding company. With Brooker, 63, as chairman and chief executive, and Container Corp. President Leo H. Schoenhofen, 53, as president, the holding company would run both firms as autonomous subsidiaries retaining their own identities. Stockholders of both companies still must approve the combine, but Brooker cannily concocted a deal so sweet that Container shareholders, at least, should find it hard to spurn...
Profitable Options. Stockholders can opt to trade a share of Container Corp., worth $38 at week's end, for a $45 share of convertible preferred stock in the yet-to-be-named holding company. Or 49% of them can have a $55 debenture paying 61% interest for 20 years-a security that analysts figure could be sold immediately for a tidy profit. Wards' stockholders can swap only one share of Wards for one of holding-company common stock, but they have a strong incentive to do so. Container Corp.'s profits of $32.9 million last year were...
Even with Container Corp. in its fold (and combined revenues of $2.36 billion for last year), Montgomery Ward would still rank third in its field, well behind Sears, Roebuck and a bit below J.C. Penney. In his seven-year struggle to revitalize Wards, Tom Brooker has unabashedly borrowed many tactics from Sears, where he rose to a vice presidency for manufacturing before leaving in 1958 to head appliance-making Whirlpool Corp. He closed marginal outlets, invested much of Wards' pile of idle cash in big new suburban stores, revamped sagging catalog sales, upgraded merchandise lines, established long-term contracts...