Word: foundering
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Dates: during 1960-1969
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...Little Cash. Last week Lytton's empire was teetering on the edge of a financial crisis that could well lead to its founder's ouster. With $2,800,000 in debts coming due by May 1, Lytton Financial found itself with too little cash on hand or in sight to repay its creditors. The company owes $1,600,000 to the United Automobile Workers Union on a note bearing a payment date that has already been postponed from April 2 to April 25. It owes another $1,200,000 to a group of institutional investors, including Investors Stock...
...goofed." He went on to explain that Merrill Lynch had already fined the salesmen involved and repaid $116,000 in losses suffered by customers. In recent years, Regan has also been one of the trustees responsible for deciding on charitable donations from the $35 million trust established by Founder Charles Merrill...
...Rheingold Beer and Warner Bros. At the same time, DDE picked up 14 new ones, including the Sylvania division of General Telephone & Electronics, Parker Pens and American Tourister Luggage. The net gain in billings was $10 million and DDB scarcely stopped to worry. Says Foote, Cone & Belding's Founder, Fairfax Cone: "We can have a cancellation tonight, without anyone batting an eye, of a $1,000,000 account. This means $150,-000 of gross income we had counted on that's gone, and there isn't a goddam thing we can do about...
Today, on the same spot where the immigrant Mayers lived and labored stands one of the main plants of Wisconsin's Oscar Mayer & Co., the U.S.'s seventh largest meat packer, with sales last year in excess of $400 million. Headed now by the co-founder's grandson Oscar G. Mayer Jr., 54, as chairman of the board, and P. Goff Beach as president, the company is still largely family owned (79%) and has nine other members on the payroll...
Paramount has put Vice President Robert Evans, 37, in charge of production. A reformed clothing manufacturer and failed actor, Bob Evans invaded the Hollywood hierarchy like a character from a '30s scenario. The co-founder of the fashion firm Evan-Picone, Evans was lounging by the pool of the Beverly Hills Hotel one day in 1956, when Norma Shearer gave him the eye; she just knew that he was the ideal man to play her late husband, Irving Thalberg, in a movie called The Man of a Thousand Faces. For three years Evans sleepwalked his way through the kind...