Word: ibm
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Dates: during 1960-1969
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...things cheer shareholders like a stock split, and last week few share holders were as cheery as IBM's. At their annual meeting in Boston, 2,300 of the faithful (of a 359,495 total) heard Chairman Thomas J. Watson Jr. announce stockholder approval of the eleventh split in the company's 57 years...
Holders of IBM's 60 million shares will get one additional share for each one they hold, making it the biggest stock distribution in U.S. history...
...IBM's split will help ensure a lively market in its stock by keeping per-share prices within reach of ordinary investors. Lately, that reach had be come a stretch. Long the highest priced issue traded on the New York Stock Exchange, IBM in the past 20 months had swept from $320 to $677.50 by last week's meeting. Even after the split takes effect this week, IBM will still be competing for top-price honors with the Big Board's current second most expensive stock, Corning Glass Works, which closed last week...
...York, IBM disclosed plans for a plant to make computer cables in Brooklyn's Bedford-Stuyvesant slum; starting within two months, the factory will employ 300 workers, mostly unskilled, by the end of 1969. Planning is already far advanced, under the federal model-cities program, for something like 4,000 much-needed housing units in Bedford-Stuyvesant and other slum areas of New York. Earlier this month, the Fairchild Hiller Corp., working with a black community group, opened the doors of the new Fairmicco Corp. in Washington's Shaw area. Eventually, Fairmicco, which will turn out such products...
...real thorn in North Korea's side-is the continued strength of its economy. Despite the disruptions of war, the South Korean economy continues to grow at a rate of 12% a year. Foreign investors are flocking into Seoul and the countryside, including Motorola (electronic circuits), IBM (computers), and Fairchild Camera (transistors). Though U.S. aid still braces the Korean budget, the aid figure has dropped from $110 million in 1966 to $70 million last year. Within the next two or three years, South Korea expects to be economically...