Word: corpe
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Dates: during 1950-1959
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...McElroy last week to serve in effect as management consultants - the Air Force's General Nathan Twining, chairman of the Joint Chiefs of Staff; Admiral Arthur Radford and Army General Omar Bradley, Twining's predecessors as J.C.S. chairmen; William C. Foster, Washington industrial ist (Olin Mathieson Corp.) and former Deputy Defense Secretary (1951-53); Charles Allerton Coolidge, Boston lawyer and former Assistant Defense Secretary (1951-52). (Absent member: Nelson A. Rockefeller, part-sponsor of the Rockefeller Report, which recommended an overhauling of Pentagon organization -TIME...
...Young was after power as well as money. While building his personal fortune, he began a battle to win control of Alleghany Corp., the rundown holding company of railroads and real estate put together by Cleveland's famed Van Sweringen brothers. After bitter battles with Wall Street bankers, the Interstate Commerce Commission and some of Alleghany's chief stockholders (Young became known as "the most litigious man in Wall Street"). Young bought heavily into Alleghany in 1937 with $1,000,000 of his own money and $3,000,000 put up by an associate, Allan Kirby...
Equally bitter to Young was the knowledge that others who had counted on him to make good were also losing money. The Central's directors, all brought in by Young, lost hundreds of thousands of dollars as the road's stock fell. His Alleghany Corp. had paper losses of more than $16 million on stock it had bought in the New York Central. To make matters worse, Bob Young was being challenged in the courts by a former associate named Randolph Phillips, who blocked some of Young's pet plans for Alleghany Corp. (TIME...
MISSILE SPENDING is picking up speed. Air Force will soon start letting $721 million worth of contracts for super radar system designed to spot incoming ICBMs, has earmarked $329 million to be spent from supplemental funds in current fiscal year. Prime contractor: Radio Corp. of America, with major help from General Electric Co. and Western Electric...
...barn studio; of a heart attack; in Beverly Hills. After his first movie venture (with a brother-in-law, Glove Salesman Samuel Goldfish, now Goldwyn. and a young playwright named Cecil B. DeMille), Lasky joined forces (in 1916) with Adolph Zukor to form the Famous Players-Lasky Corp., which evolved into Paramount Pictures...