Word: corpe
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Dates: during 1950-1959
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Latching onto the 1,000 employees of Roto-Broil Corp. (electric broilers), one crooked local was so helpful as to allow the management (1956 gross: $10 million) to keep about $23,000 in check-off dues. In most other instances Dio-controlled "unions" were nothing beyond fronts for extortion thugs, who sent their worried victims into the arms of Equitable Research Associates, Inc. For handsome fees Equitable saw to it that employers were never bothered by Dio's union organizers. Equitable's boss: Johnny...
...theory that the steel industry is a bellwether for the economy, that if steel raises or lowers its prices steel-using industries will automatically raise or lower theirs, U.S. Steel Corp. Board Chairman Roger M. Blough had a curt reply: "Sheer economic superstition." Said Blough last week: "All the money the American people spend for steel in a year is so small, in comparison to their total expenditures for all the other things they buy, that any change in the price of steel is overwhelmed by the price movement of other goods and services which make up the average family...
...Louis Gilsonite Co. By wagon, then by railroad, the company hauled out sacks of Gilsonite, as the substance came to be known, to use in coloring black paints, waterproofing roofs, blacking inks and even paving streets. Eventually the company was bought by the Barber Asphalt Co. (now Barber Oil Corp.), which in 1946 teamed up with Standard Oil Co. of California to try to extract gasoline and high-purity coke from the Gilsonite...
...line of 40 cameras selling from $39.95 up to $1,096, plus professional equipment selling for as much as $14,750, Bell & Howell estimates that 65% of its sales comes from products that were not even in existence five years ago. President Percy is now eying General Aniline & Film Corp., the German-controlled firm confiscated as alien property in World War II, which the U.S. Government is about to offer for sale. Percy wants the company particularly for its Ansco film division, so that Bell & Howell, which lacks a movie film line, can compete on more equal terms with Eastman...
...little town of Ellenville, N.Y. (pop. 5,000) gulped when Banker William Rose, a self-proclaimed Robin Hood, was charged with allowing overdrafts of $1,200,000 (TIME, Dec. 24), and his Home National Bank was closed by the Federal Deposit Insurance Corp. Last week Ellenville gulped again as the FDIC sifted through the remains of Home National (capital: $807,000). To settle Rose's gift-loan of $958,000 to the nearby Anjopa Paper Co., the FDIC agreed on a $396,000 installment-plan repayment. FDIC had no other choice; Anjopa's total worth is only...