Word: distributorships
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Dates: during 1950-1959
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...save Maserati without wrecking their remaining businesses, which are independently solvent (annual sales: $2,000,000), the Orsis offered Driver Fangio a 50% share in Maserati for $625,000. Fangio, who has a thriving G.M. distributorship in Buenos Aires, could raise only half the necessary funds. That left Maserati at the mercy of the state-owned Credito Italiano, which had the right to turn the firm over to the government. Last week the plant was still running-but for the government and without the Orsis...
Irving J. Levine, tight-lipped president of K & L Beverage Co., told how he and Beck sweet-talked St. Louis' Anheuser-Busch into giving Levine's company the sole distributorship of Budweiser in Seattle, and later in other areas of Beck's domain of Washington and Alaska. Then, said Levine, Dave Beck Jr. and a partner each put up $24,500 for a total of 49% interest in K & L, and Dave Jr. became vice president of the company. Two years later, Mrs. Dave Beck Sr. paid Levine $40,000 for a 40% interest...
Studebaker-Packard Corp. this week took over the exclusive U.S. distributorship of Germany's Mercedes-Benz cars, priced about $5,000 to $13,000. The deal puts the company back into the luxury-car market, gives it, and Curtiss-Wright, permission to import and manufacture Mercedes-Benz diesel engines and fuel-injection systems. With an eye on the sales surge of cheaper foreign cars, S-P also plans to produce a stripped-down version of its two-door "Champion" this year. Price: about...
...Argentina's Juan Manuel Fangio and England's Stirling Moss. At 46, Fangio, who got his start as a Buenos Aires bus driver, is a four-time world champion. Under the benevolent sponsorship of Dictator Juan Peron he parlayed his home-town popularity into a wealthy G.M. distributorship in Buenos Aires. He has continued to do well as a driver abroad. At the wheel of a racing car he is an artist. His fine mechanic's ear is attuned to the engine's telltale throb; his feet and hands are sensitive to every vibration. He rarely...
MISSISSIPPI'S ROBERT C. MILXER, 37, who borrowed $3,000 to open a Shell Oil distributorship when he was 21, now owns businesses grossing $20 million annually, including an export-import company, real-estate holdings in Jackson, Miss. (including a ten-story office building), Milner Products Co., one of the world's biggest makers of pine oil deodorants. With four auto agencies, he is the South's biggest Chevrolet dealer. Milner's income: about $1,000,000 annually, of which he keeps half, since much of it is in capital gains...