Word: giannini
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Because you write us more often about our cover stories than about any other stories in TIME, you may be interested in knowing how a cover story is put together. For instance, take last week's cover on California's Amadeo Peter Giannini...
...editors tell me that the final decision to do the Giannini cover was made ten days before the issue came out. The decision was squarely on the news: the next week Giannini's Bank of America passed Manhattan's Chase National Bank in deposits, putting it once again in the lead for the title of world's richest bank. This made a good newspeg for telling the story of the current prosperity and boundless optimism of the Pacific Coast...
...employe is permitted to gamble, make a customer repeat his name over the telephone, make an overdraft against his deposit account, borrow money from a client, or buy securities beyond his ability to pay. All of them know that Giannini refers to them as his "boys & girls." And while salaries are not startling, all know they can retire-after faithful service-with a comfortable pension. Most seem to like the setup...
...does Founder Giannini. As he sunned himself in Florida last week, he knew that the future of his state and region depended, as much as anything, on the giant he had built. He had armored the West for the battle of peace...
...Last year Banker Giannini decided that his personal fortune was too big. He hurriedly put $500,000 of it into a fund for bank training and medical research. His explanation: "Hell, why should a man pile up a lot of goddamned money for somebody else to spend after he's gone?" His estimate of his wealth today: between...