Word: marquardt
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Dates: during 1950-1959
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...Against his financial aide's advice, Rockefeller put up $500,000. After a tough decade, Reaction grew strong enough to merge with Thiokol Chemical Corp. last year, and Rockefeller got Thiokol stock that is now worth $4,200,000. In 1950, Rockefeller put $202,000 into low-flying Marquardt Aircraft Co., a pioneer in ramjet propulsion; his interest zoomed to $5,200,000 after Marquardt started making ram-jets for the Bomarc missile. But the fastest rise of all was in Itek. Two years ago Rockefeller, a camera bug, invested $279,000 in Itek Corp., which had plans...
Second Stage. Unterberg, Towbin has had previous successes. In 1955 it engineered a Diners' Club stock issue that no one else wanted, brought it out at $8 a share. Current value: the equivalent of $86 a share. The two-man team handled Marquardt Aircraft Co. in 1952 at $15 a share; it is now worth $280 (counting stock dividends). While most of Unterberg, Towbin's companies are scientific or technical, it is not a venture capital firm in the sense that it sponsors new inventions. "We get in on the second stage," says Partner Clarence E. ("Dutch") Unterberg...
...firm's first "glamour" underwriting came in 1952, when Venture Capitalist Laurance Rockefeller chose it to help market the stock of his Marquardt Aircraft. Another opportunity came when Unterberg, Towbin became interested in American Research & Development Corp., a venture capital firm that had invested in a number of exciting looking companies but was having trouble getting market recognition. The partners decided to help by making a market for the stocks, acquired an inventory of shares to trade. Because there was a public market in their securities, companies such as Air borne Instruments, Machlett Laboratories and Midwestern Instruments found that...
After a smiling, muscle-clutching reunion with an old wartime friend, General of the Army Douglas MacArthur, President Carlos Garcia of the Philippines flew off to a banquet in Phoenix, fell victim to feckless staff work in ad-libbing a surprise, honor-giving speech for Arizona Newsman Fritz Marquardt. Said Garcia: "I would like to award a decoration to one who has done a great deal for the Philippines: Governor Ernest McFarland." Democrat McFarland sat by red-faced as an aide rushed up to announce that the award was meant for Marquardt. Leaping after the fumble, Garcia failed to clear...
...little U.S. companies. Sears, Roebuck & Co. owns big blocks of stock in such suppliers as Whirlpool-Seeger Corp., Florence Stove Co., and Armstrong Tire & Rubber Co.; Gulf Oil has a 12% interest in Texas Gulf Sulphur, which supplies Gulf with sulphur; Olin Mathieson Chemical has 25.8% of Marquardt Aircraft and 50% of rocketmaker Reaction Motors, for which it is helping develop rocket fuel. And by successfully going back 30 years to trip Du Pont, trustbusters had won the right to try any company for things it did in long years past...