Word: hanna
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...that post Somoza got very chummy with U.S. Minister Matthew Hanna. It was the smartest move he ever made. Both the minister and his wife were charmed by Tacho's effervescence. Before long, Hanna was urging that when the Marines pulled out, Tacho should be made chief of the Guardia Nacional. Sixteen years ago this week, Somoza took over that job. He has been the Guardia's boss ever since...
Hollinger Consolidated Gold Mines Ltd. of Montreal and its U.S. partner in the Ungava venture, the M. A. Hanna Co. of Cleveland (which holds a 40% interest), were happy over the summer's work. Their engineers had already proved 300 million tons of high-grade...
Rayon & Heir. It was obvious that Detroit's motor industry, biggest U.S. steel consumer, could use a mill of its own. But it had none until Humphrey put together Great Lakes Steel, later merged it into National Steel Corp. (27% Hanna-controlled). Long before the industry itself woke up to the fact, Humphrey discovered that Cleveland's Industrial Rayon Corp. was revolutionizing the rayon industry by a continuous spinning process; Hanna bought control (17%). In 1945 he merged some of Hanna's coal interests into the mammoth new Pittsburgh Consolidation Coal Co. (57% Hanna), and became boss...
...diverse companies Hanna last year rolled up a $7.2 million net, 40% more than 1946's $5.6 million. This year the company is earning at a rate of $7.8 million...
Still looking ahead, Humphrey has picked his heir apparent. He is a big (6 ft.) Tennessean, Joseph H. Thompson, who joined Hanna eleven years ago after an Alger-like rise in banking (he was a vice president of Cleveland Trust Co. at 32). It was Joe Thompson, now 48, who thought up the Butler Brothers deal, and worked it out. Last week, when Humphrey and his syndicate formed Consumers Ore Co. to manage Butler, they made Thompson its president...