Word: ince
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Dates: during 1960-1969
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Having endured a nationwide public scolding since last January's Apollo disaster, North American Aviation Inc. last week did some private scolding within its own corporate offices. Chief victim was Harrison A. ("Stormy") Storms Jr., 51, who was replaced as head of the company's Apollo-building space division by Vice President William B. Bergen, 52, former president of the Martin Co. and a North American newcomer. After the front-office shakeup, North American President J. Leland Atwood, testifying before the Senate space committee, expressed confidence that "we can effectively accomplish the lunar mission in this decade...
...raise a quick $30 million in cash, A.M.C. sold its healthy Redisco, Inc. subsidiary to Chrysler Corp. A credit operation, which does a $250 million annual business financing sales of furniture, TV sets and other items, Redisco had earned a robust $2,500,000 a year. A.M.C.'s appliance-making Kelvinator division is also profitable-and for sale. Drastic as such surgery is, Chapin and Co. see little alternative to sacrificing A.M.C.'s two strong, non-automaking arms...
Last month Leap's agents were able to place an order for 10 million pills at $15 a thousand (they cost 56? a thousand to make). Next, the D-men raided an outfit aptly named Fixaco Inc., operating out of a motel in Imperial, Mo., where they said they found 650,000 bennies. The agents made six arrests, including John R. Kauffmann, operator of the motel and of Fixaco, who was charged with having made two illegal sales. He and the other five all pleaded not guilty...
...owner of Krackerjacks Inc. appeared in court yesterday on charges of selling second-hand clothing without a license. Donald "Jack" Levy, owner and manager of the Cambridge mod fashions store, won a postponement of the case until next Thursday...
...Locker Room. Hoping to profit from Licensing's touch, National Periodical Publications, Inc. (Mad magazine. Wonder Woman comics) bought the firm last year for $2,400,000 in stock. Royalties from manufacturers, who pay Licensing 5% of the wholesale price of goods sold with its endorsements, last year totaled some $5,000,000. Half of that goes to the owners of the names; the rest is nearly all profit...