Word: foundered
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Dates: during 1950-1959
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Most important nationally that spring was the discovery of a new planet just beyond Neptune. The discovery was made by the Lowell Institute in Arizona, which had been started by President Lowell's brother, Percival Lowell '76. Suggested names for the new planet included Kronos, Constance (after the founder's widow), Percival (after the founder), and Atlas...
...assignment: create the machines and the organization to defend the U.S. against air attack. Four years later, the nation has a Continental Air Defense Command that is on 24-hour duty from the arctic to New Mexico (TIME, Dec. 20). But it no longer has the benefit of its founder's experience. Last week, at the age of 54, General Chidlaw retired with...
...Cassius C. Mallory, 64, who stepped up to the Grace Line board chairmanship vacated by W. R. Grace & Co. President J. Peter Grace Jr. (Grace gave up the title to free himself for the diversified operations of the parent company.) Lapham comes by shipping naturally: his grandfather was co-founder of the American-Hawaiian Steamship Co., his father was onetime president and board chairman. Brooklyn-born, Lewis Lapham grew up in San Francisco, went East to school (Hotchkiss and Yale '31), worked as a ship news reporter for the San Francisco Examiner before he joined the family firm. During...
Standard Oil's founder, a good capitalist and good Baptist who took the long-range values for granted, might be somewhat puzzled by all the skyhook talk. John D. Rockefeller Sr. had put the matter more simply when he wrote: I was early taught to work as well as play...
...Benjamin Coates, 37, was elected president of W. & J. Sloane, one of the nation's top quality-furniture chains, ousting W.E.S. Griswold Jr. in a family fight against the old management. John Sloane, 72-year-old grandson of the founder, also resigned as board chairman. The changes climaxed a three-year-long family fight over control of the 112-year-old company. Coates, a Philadelphia financier who married John Sloane's daughter in 1944, served on the board of the family firm, finally quit in 1951, convinced that W. & J. Sloane (which operates nine stores, from Beverly Hills...