Word: marcuses
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More sharp words flared last week from Karl Barth's son, Dr. Marcus Barth, 43, of the University of Chicago's Federated Theological Faculty. The younger Barth denounced U.S. Sunday schools for shunning reality with syrupy sermons that "Mama loves me. Papa loves me, teacher loves me, God loves me. This develops self-centered young egoists." The schools even launder Bible stories so that "Egyptians never drowned, John the Baptist was not beheaded." Urged Barth: "Even eight-year-olds can know that all the world is not rosy . . . Sunday schools should be ahead of the development...
...chairman and
president of Mack Trucks, Inc. after a four-year tenure in which he
more than doubled Mack's sales and successfully weathered the recession
(third-quarter sales of $66,352,321 v. $60,759,386 in 1957).
Successor: to be named by Dec. 31.
...which he said that loan officers were relying too much on statistics in granting loans, and not enough on common sense. Florence made a rule that any one officer could grant a loan, but it took more than one to turn down a borrower. "At Republic," says President Stanley Marcus of Dallas' Nieman-Marcus, "nobody thinks they're doing you a favor by lending you money. They look on banking as a commodity to sell, not a privilege...
...face belonged to 43-year-old Hyman Marcus, onetime mathematics teacher who forsook ivied halls for finance. In 1952 Marcus bought into the debt-ridden U.S. Hoffman Machinery Corp., a money-losing pressing-and-dry-cleaning-machine company. After he gained control, Marcus announced grandiose plans to buy up profitable subsidiaries to create a holding company. With plenty of favorable publicity, the company shares rose to $22 a share before the bubble burst and sent the price down...
...Next Marcus began buying Artloom stock, in June got himself elected chairman of the board. Thereafter he repeated his old spiel about big mergers to transform Artloom into a diversified manufacturing company. As before, the stock started up. When SEC looked closely last week, at least part of the reason was apparent. Not only did Marcus hold, at last report, 50,000 of Artloom's 504,982 outstanding shares, but the Manhattan brokerage firm of Van Alstyne, Noel & Co., of which Marcus is a partner, was reported to have had registered 225,000 shares for its own account...