Word: firm
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Dates: during 1970-1979
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...years of Larsen's presidency at Time Inc. were marked by steady growth. Among other projects, he guided the launching of SPORTS ILLUSTRATED in 1954. Larsen and Luce once thought of making 45 the mandatory retirement age at the firm, but settled on the customary 65. Larsen became the only executive to be exempt from that rule (Luce retired from active management upon turning 66, three years before his death in 1967). In later years Larsen became a source of thoughtful counsel and new ideas. He kept himself avidly well informed. Says TIME-LIFE Films President Bruce Paisner...
...pension protector is itself troubled. Twice the Pension Corporation has asked Congress to postpone putting into effect new provisions on multiemployer pension funds for fear that companies or unions would dump their programs and leave the Government to pick up the pieces. The largest net claim for a bankrupt firm to date was $35 million. In the unlikely event that Chrysler went into total bankruptcy and reneged on its pensions, the federal agency would have to put up perhaps $780 million. The Pension Corporation, whose assets total around $250 million, would be forced to ask Congress for additional funds...
...ailing Chrysler Corp. has been using $400 rebates and the pitching of Joe Garagiola to whittle down its huge inventory of unsold cars for a month now, but the firm's most important marketing drive is just beginning. Late last week the nation's No. 3 automaker submitted to Treasury Secretary G. William Miller a 27-page recovery plan with 90 pages of exhibits that laid bare inside details on profitability and marketing strategy of a kind that no automaker had ever before revealed. Said one Chrysler official: "We are really taking our pants off on this...
...chain's 1,040 restaurants and 520 motor lodges to Imperial Group Ltd., a tobacco, food, beer and packaging conglomerate whose famous brands include Players cigarettes and Harp lager. The bundle from Britain will be $630 million, or about $28 per share for each of the U.S. firm's approximately 22.5 million shares; just before the announcement the stock was selling at about...
...cream (calorie count: 160 for a rounded scoop of chocolate chip). Eager to expand but unable to raise much cash during the Depression, Johnson in the early 1930s became a pioneer in the practice of franchising (though today the company owns some 75% of its restaurants). Later the firm plunged into motor lodges, three-quarters of which are franchised...