Word: mergers
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Dates: during 1960-1969
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Died. Ferdinand Eberstadt, 79, Wall Street financier and one of the early masters of the corporate merger; of a heart attack; in Washington, D.C. Once described as "a man whose manner is pleasantly abrasive, like a rough towel after a cold shower," Eberstadt was an enormously successful investment banker (F. Eberstadt & Co., Inc.) and mutual-fund pioneer (Chemical Fund), but his greatest fame came from his ability to help arrange some of industry's biggest mergers over the years: Dodge and Chrysler, United Artists and Transamerica Corp., Douglas Aircraft and McDonnell Aircraft and, on the day of his death...
...when a strike grounded competitors. Otherwise, it lost up to $10 million annually. Last week, however, "The All-Steak Airline" became a pioneer of sorts. After numerous unsuccessful efforts to sell Northeast, Storer Broadcasting Co., which owns 86% of the stock, induced Northwest Airlines to take it. The merger would be the first among U.S. trunk lines since United acquired Capital in 1961, and could set off a new round of airline consolidations...
...couple of reasons for the merger are that Northwest President Donald Nyrop, a first-class administrator who was once chairman of the Civil Aeronautics Board, will pick up Northeast's jets for a bargain price and get a tax-loss carry forward estimated at $17 million for his company. Northwest, which earns most of its profits in the spring and summer, also could use Northeast's cold weather vacation traffic. In addition, Northeast's new Miami-Los Angeles run will tie in neatly with Northwest's newly granted routes to Hawaii and Japan...
Dunster House was all set for its biennial dinner with President Pusey. The kitchen had purchased tender roast beef and vintage wine from the untroubled year of 1966. Pusey had prepared some "off-the-record family-party" remarks on the problems confronting Harvard-Radcliffe merger...
...Faculty. The exchanges backers stress that these are experimental exchanges, not in any way binding for future years. They also feel that these small-scale exchange will point out any unforeseen problems in coed housing which could be remedied before coeducation is started on a large scale after the merger...