Word: corpe
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Dates: during 1950-1959
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...Department's Advanced Research Projects Agency must also be able to defend himself against sharpshooting from Congress and from the three armed services. Picked for the post last week by Defense Secretary McElroy: squarejawed, cool-eyed Roy W. (for William) Johnson, 52, vice president of the General Electric Corp. Johnson will resign from G.E. (but keep "substantial" G.E. stock), take over ARPA April i after two weeks of briefings for an assignment that has no precedent...
MISSILE MERGER will bring together Reaction Motors, Inc. and Thiokol Chemical Corp., two of industry's fastest-rising pioneers. In $7,200,000 stock exchange, Thiokol, which specializes in solid-fuel engines for Nike-Hercules, La Crosse and Lockheed X-17 missiles, will absorb Reaction, a leader in liquid-fueled engines...
...large nuclear power plant completed to date, the 60,000-kw. station built by Westinghouse Electric Corp. for AEC and the Duquesne Light Co. of Shippingport, Pa. (TIME, Nov. 25), is a major milestone for the U.S. -and a perfect example of the cost problem. Westinghouse's original cost estimate was $37.8 million. The plant will ultimately cost about $100 million. The Government paid 95% of the bill to get it operating; the power produced is so expensive that AEC also pays a heavy subsidy to make it marketable...
This week it closed the third major deal of its move into U.S. oil with the purchase of the oil holdings of Floyd Odium's Atlas Corp., for about $20 million, in a cash and stock swap. This deal runs its oil reserves up to 40 million bbl., gas to 275 billion cu. ft., crude production to 10,000 bbl. a day, and refinery capacity...
...week. After a bitter, 2½-year battle between Young and Randolph Phillips, a former associate, the U.S. Supreme Court cleared the way for one of Young's pet projects: a plan to wipe out $18 million in dividend arrears to preferred stockholders of Young's Alleghany Corp., which has working control of the Central with 973,500 shares of stock. Under the plan, each share of Alleghany's 5½% preferred stock would be exchanged for ten shares of new 6% preferred, convertible to common stock in 15 years...