Word: haven
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Dates: during 1950-1959
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THOMAS BURNETT SWANN Winter Haven...
...haven't got time to wait," said a gaunter, older (72) George Papandreou one day last week. There was apology in his voice, for in his sweat to be Prime Minister he had just joined forces with Greek Communists...
...Absolute baloney!" roared rambunctious Patrick Benedict McGinnis last week to a report that he was leaving the presidency of the New York, New Haven & Hartford Railroad. Less than five hours later, McGinnis ate his baloney, said that he would quit his $75,000-a-year job because a "splinter group" of New Haven directors did not like the way he was running the railroad...
...financial danger signals ahead. "His lavish payment of dividends and his diminishing payments for maintenance made it certain that a crisis would arise," said Aetna Life Insurance Co.'s President Morgan B. Brainard Sr., who resigned from the board twelve months ago and unloaded substantial holdings of New Haven stock held by his company. Major stockholders, looking for a new president, tried to hire Werter S. Hackworth, president of the Nashville, Chattanooga & St. Louis Railway. Snorted Hackworth: "Too many commuters and too many headaches...
Instead, the New Haven board picked Boston Lawyer George Alpert, 57 (at $50,000 a year). No railroad man, Alpert had helped McGinnis win his 1954 proxy fight for control of the New Haven, became a director, has been studying ways to improve the road. He plans to hire an operating boss, said he would buy "a large number" of new diesel locomotives, boost maintenance outlays $3,000,000 in 1956, and run trains on time again. Said he: "Until proper service is accorded to the public, the investors are not entitled to a return on their investment...