Word: loew
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Teahouse of the August Moon has Marlon Brando, who speaks flawless Japanese. O-so, at Loew (State and Orpheum...
...Nicholas M. Schenck, 74, one of Hollywood's last tycoons, quit the board of Loew's Inc., world's biggest moviemaker (Metro-Goldwyn-Mayer studios, some 170 U.S. and foreign theaters, M-G-M records). A Russian immigrant boy who peddled papers, Nick Schenck got in at the start of the picture business, fought his way to the presidency of Loew's in 1927. Last year, as earnings fell and the threat of a stockholders' proxy fight rose, Schenck moved upstairs to board chairman, later honorary chairman...
Family Affair. Some insurgent stockholders are also fueling their campaign with charges of excessive salaries and nepotism indulged in by M-G-M brass. Says New York Judge Louis Goldstein, who says he represents more than 200,000 shares: "In 1955, Nicholas Schenck, then Loew's president, received $171,786 in salary and nontravel expenses; Charles Moscowitz, vice president and treasurer, received $156,429; Schary...
Judge Louis Goldstein also asserts that Schenck and Moscowitz farmed out to companies partially owned by their relatives Loew's Theater candy concessions (1954 sales: $3,589,423), plus all Loew's business for advertising and publicity ($4,026,000 in 1954), carpets and furniture ($325,000), posters...
...February's annual meeting, the two investment companies will be able to walk in and take control without a fight-provided they find the right man to direct the company. If they do not find the man, it is anybody's guess what will happen to Loew...