Word: eatonized
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Philip H. Theopold '25, partner in Minot DeBlois and Maddison, a Boston real estate firm; Fredrick M. Eaton '27, partner in Shearman, Sterling and Wright, New York law firm; John E. Lawrence '31, partner in the Boston cotton firm James Lawrence and Co.; and Albert L. Nickerson '33, president of Socony Mobil Oil Co. have also been nominated...
Later, he got Eaton a position in a utility company. Eaton learned the business so fast that he was able to build a power plant in Canada a few years later. By mergers and purchases, he shortly controlled a utilities complex in which $2 billion was invested. By 1925 he was so rich that when he decided to refinance a small steelmaker called Trumbull Steel Co., he could say: "Gentlemen, if you have any doubt about my ability to underwrite the financing, just call the Cleveland Trust Co. and ask whether my check for $20 million will be honored." Five...
...Depression clipped Eaton's wings but not his tongue. Railing at Wall Street and the "New York money ring," he became a New Dealer and pro-union, as well as a violent enemy of Ohio's Senator Robert A. Taft because Taft's early isolationism was "a policy as fantastic in theory as it is impossible in practice." Eaton prevented the Taft family from merging Cincinnati's Enquirer with their successful Times-Star by lending the employees $7,600,000 to buy the paper from the management...
During the 1930s and '40s, Eaton was busy parlaying what he salvaged from the Depression into a second fortune even bigger than the first. With the financial help of RFC, Eaton diverted an Ontario river and drained a lake to get his huge Steep Rock iron-ore mine working, went back into steel by forming Portsmouth Steel Corp. with holdings in Detroit Steel and Cleveland-Cliffs Iron, helped that other great RFC beneficiary, Henry J. Kaiser, bankroll his ill-fated auto venture. Then, at a critical moment, Eaton backed out of a deal to underwrite $11.7 million worth...
...Eaton maintains that "what the world pays most attention to is success," and as a financial success he thinks the world should also listen to his political opinions. Perhaps the world is a little skeptical of them, but there is every reason why Khrushchev should agree. According to Eaton, Secretary of State John Foster Dulles is preaching "insane fanaticism," West German rearmament is "begging for trouble," recognition of Red China is "only common sense," and the U.S. position on Hungary is "stark hypocrisy." Says Eaton: "A truculent trinity of politicians, generals and journalists are relentlessly driving...