Word: gruen
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Dates: during 1950-1959
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...feud between the New York Post and Columnist Walter Winchell last week moved from the news columns into the courts. The Post and Editor James A. Wechsler filed libel suits for $1,525,000 against Winchell and the Hearst Corp., his radio-TV sponsor (Gruen Watch Co.), and American Broadcasting Co. Said the Post: in his columns and on his radio-TV programs, Winchell has been engaged in "journalistic gangsterism . . . [He has] spread the impression that the Post and its editors are disloyal to the United States and support and defend the Communist Party and C.P. figures convicted of conspiracy...
...week's end, several big U.S. manufacturers, importers and assemblers, whose movements are largely Swiss-made, ticked off arguments that bolstered the Swiss rather than the U.S. claims. The American Watch Association, which represents such American-owned companies with Swiss subsidiaries or plants as Benrus, Bulova, Gruen and Longines-Wittnauer, was quick to point out that out of every dollar spent in the U.S. for a Swiss watch, 85? stays in this country; only 15? goes to Switzerland. It was estimated that for every dollar the U.S. Tariff Commission may tack on to Swiss movements, the U.S. consumer will...
...onetime star salesman for the Gruen Watch Co., Teviah Sachs, 49, knows the watch business as intimately as a watchmaker knows a 17-jewel movement. But when Sachs offered to put up $100,000 of his own money two years ago, to keep the bankrupt Waltham Watch Corp. from closing, it looked as if he had let his prudence run down. In return for his investment, Sachs got 1) 400,000 shares of common stock, 2) a chance to boss the reorganized company† as president, and 3) a suit from protesting stockholders. Last week the U.S. Supreme Court tossed...