Word: corpe
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Dates: during 1950-1959
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...SCHERING CORP., a top ethical drugmaker (1956 sales: $57 million), will merge with $12.7 million-a-year White Laboratories (Feen-A-Mint, Aspergum) to fight current attempts by Revlon Inc. to win Schering control. If stockholders approve, Schering will swap about 11% of its shares for White, thus set up White group as a counterbalance to Revlon, which now owns 9% of Schering stock, probably the biggest single block outstanding...
...make longer, lower time payments. The budget ax in this case fell on the aircraft industry. The Navy announced that it will stretch out the procurement of three jet fighters-Chance Vought's supersonic F8U Crusader, McDonnell's F3H Demon, Douglas' A4D Skyhawk. United Aircraft Corp. reported that its work on a nuclear-plane engine would be "drastically reduced," or scrapped altogether. And the Defense Department announced that it will trim progress payments on unfinished aircraft from 75% of the cost to 70%, forcing plane makers to find more financing in a tight-money market. Said Boeing...
...stocks drowsed, Wall Street woke up to the wonders-and possibilities-of magnetic tape. The stock of ORRadio Industries Inc. jumped live points in a day to 23. Reason: ORRadio, one of the four major makers of magnetic tape (others: Minnesota Mining & Manufacturing Co., Audio Devices Inc., Reeves Soundcraft Corp.), is the fastest growing company in the new field. Its sales, which rose 62% to $1,600,000 last year, are expected to hit $2,500,000 this year and quadruple next year. This week in Opelika, Ala., ORRadio rushed to completion part of a new plant to start commercial...
...other holdings, sold stock to friends by incorporating in 1950, raised another $246,675 in 1953 by a public offering of 149,500 shares of stock. After licking production problems, he developed a new tape coating (Ferro-Sheen) with unusually high fidelity. This caught the eye of the Ampex Corp., a maker of wire recorders and other electronic equipment, which had gone into the manufacture of tape recorders after one of its engineers had brought two of the Magnetophons back from Germany. ORRadio and Ampex worked together to develop the TV tape for rebroadcasting. Ampex was so delighted with...
RASCAL MISSILE made by Bell Aircraft Corp. will go to SAC units this month. By late October, B-47 bombers will start training flights with Rascal, which can carry a nuclear warhead 100 miles from plane to ground target...