Word: kress
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...mergers of U.S. Vitamin with Revlon and of whisky-importing Buckingham Corp. with Schenley. Last year Lehman negotiated some 20 mergers, for which the purchase prices totaled more than $700 million. Goldman, Sachs last year put through more than ten key mergers, including Genesco's acquisition of the Kress variety-store chain, Transamerica's purchase of Braniff and Lanvin's purchase of Charles of the Ritz. Other major deals were brought off by such investment bankers as Morgan Stanley, First Boston, and Kuhn, Loeb...
...Christmas Ball at Manhattan's WaldorfAstoria. The very In thing this year was to introduce yourself to the postdebs and Ivy Leaguers trudging down the reception line as another girl entirely, so everybody had the most awful time sorting out Elizabeth Funston, 18, Virginia Guest, 18, Jocelyn Kress, 18, and Fernanda Kellogg, 18. But then the ritual began as always with the Coming Out Waltz, followed by the Garland Dance, the Polka Sleigh Ride and the Christmas Star, in which the gals kneel in the dark, hold candles and sing carols. Meyer Davis' band struck up Every thing...
...stores. Last week Grant (1,097 stores) started building another of its huge Grant City stores, which are so much like department stores that they sell color TV sets and high-fashioned clothes. J.J. Newberry (548 stores) has opened 24 department stores under the name "Britts," and S.H. Kress is busy with plans to redesign the interiors of many of its 270 variety stores to make them look less jumbled. Declaring its intention of becoming the world's biggest discounter, giant Woolworth (4,192 stores in North America and Europe) has opened 16 "Woolco" discount stores and expects...
...Jimmy Kress's letter was just one more embarrassment to a Pentagon already embarrassed by the third Tonkin Gulf incident. The incident came at a time when Barry Goldwater was trying to make a political issue out of Washington's ability to maintain instant communications with combat areas. When he first got the word, Defense Secretary Robert McNamara broke off a news conference, canceled a speaking engagement that had been scheduled for Chicago later that...
...Defense Department also refused to reveal the names of the destroyers on the claim that they carried highly secret electronic snooping gear. But after Jimmy Kress's letter, the Pentagon grudgingly confirmed that the destroyers were, in fact, the Morton and the Richard S. Edwards. After all, how can you stay mum when Mom out there in Dubuque wants the folks to know where...