Word: florida
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Dates: during 1950-1959
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General Marcos Perez Jimenez, 44, the plump, well-manicured ex-dictator of Venezuela, got a rude order last week from the U.S. Immigration Service: get out of the country by April 15. Perez Jimenez has been living in a $300,000 mansion in Florida on a temporary visa and a diplomatic passport given him, in a show of chivalry, by the revolutionary junta that bounced him from office 15 months...
...just physical, the TV western is the No. 1 talking horse of the average trail-feverish American. A man in Pennsylvania, angered when his wife turned off Have Gun, Will Travel while he was watching it, ran for his revolver and took a shot at her. (He missed.) In Florida one priest bet another that Marshal Matt Dillon was faster on the draw than Paladin-loser to say early Mass on Sunday. Tie-in sales of toys suggested by TV westerns are expected to hit $125 million this year. And at last count, the U.S. had about 600 "fast-draw...
...high-altitude standouts on last week's gyrating American Stock Exchange (see Wall Street) were General Development Corp. and Universal Controls, Inc. Shares of General Development, the mailorder merchandiser of Florida houses and lots (TIME, May 19), zipped from 59⅛ to 69⅝, and its success boomed the stock of a flock of lesser companies planning Florida land developments. Universal Controls, an electronics maker, moved from 84 to 97. Both stocks have more than doubled since Jan. 1. Last week Universal announced a four-for-one stock split, plus a 10% stock dividend and a boost...
Shell Game. Chesler stalked small companies with big potential, accurately sniffed the coming boom in electronics, Florida land, and leisure activities, including horseracing...
Chesler constructed General Development on another corporate shell: Detroit's Chemical Research Co. He bought in cheaply, helped steer the company into Florida real estate, in mid-1957 picked up another 520,000 shares at $7.15 each, and went to work to expand the company. General's earnings rose from $2.1 million in 1957 to $6.6 million in 1958, or $2.80 a share. Yet this is not cash on hand. When General sells an $895 lot for $10 down and $10 a month, it counts the full profit on the sale as current profit, even though it will...