Word: ince
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Dates: during 1970-1979
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Died. Joseph Ehrenreich, 65, promotion-wise president of Ehrenreich Photo-Optical Industries, Inc., whose 1954 trade agreement with the Japanese firm of Nippon Kogaku established Ehrenreich as the sole U.S. importer of 35-mm. Nikon cameras (now $43 million in U.S. sales) and helped open the American market to Japanese optical and scientific equipment; of an apparent heart attack; in Los Angeles...
...weeks ago Fruehauf Corp the producer of truck trailers, threw in the hammer and joined a long parade of big companies out of the modular-housing field. In the last year or so ITT Levitt, Florida Gas Co., Potlatch Forests Inc., Hercules Inc. and Wickes Corp along with a score of smaller firms, also pulled put of the industry. Last year Florida's Behring Corp. cut its losses and closed down the nation's largest house-building plant. Beset by production and marketing troubles, another industry leader, Stirling Homex, crashed into bankruptcy seven months...
Almost immediately, the market began to plunge, and Tsai's portfolios did worse than more conservative funds. He took a drubbing on such unfortunate investments as National Student Marketing, Parvin-Dohrmann and Four Seasons Nursing Centers of America, Inc. Anyone who bought 100 shares of Manhattan Fund for $1,000 at its 1966 offering would have been left with about half that last week, not counting dividends. Tsai was to some extent merely unlucky, but he was also unwise to use his freewheeling investment strategies in the uncertain market of the past few years...
...directors were prepared to keep Tsai on almost indefinitely, but he left because he has been unable to capture the presidency of the $1.6 billion conglomerate, ,a job he coveted. Now Tsai has bought control of Knight, Carry, Bliss & Co., Inc., a medium-sized brokerage firm that specializes in institutional business. "The brokerage business has gone through an unsettling period," Tsai says, "but my impression is that the clouds seem to have lifted. I am interested in concentrating on a limited number of high-quality growth stocks, and I feel very excited about the whole thing." That sounds like...
...Anthony Rossi, 72, does not like to talk about his wealth because "you get all kinds of letters from people wanting money." His stock in Tropicana Products, Inc. of Bradenton, Fla., rose $59 million, to $128 million. Rossi, who still speaks in the accents of the Sicily that he left 51 years ago, founded the company in 1946 after a varied career as cab driver, bricklayer, tomato farmer and restaurateur, and he owns 24% of Tropicana's shares. He was one of the first to discover the North's thirst for chilled orange juice shipped from Florida...