Word: metros
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Dates: during 1960-1969
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Last week Aubrey returned to power. Las Vegas Financier Kirk Kerkorian, who a month ago won control of Metro-Goldwyn-Mayer, picked him to be the company's new president to replace Louis ("Bo") Polk Jr., 39, who was fired. Polk had been chosen only last January by Edgar M. Bronfman, whose 16% holding in the company was the largest until Kerkorian bought roughly a 40% share for about $100 million. (Time Inc. owns 5%.) Bronfman and one of three other directors representing his interests quit the 19-man board last week...
Kirk Kerkorian, 52, who built his $275 million fortune on airlines, hotels and Las Vegas gambling, last week added another potentially rich prize to his leisure and travel domain. He won control of Metro-Goldwyn-Mayer, the ailing moviemaker, with a stunningly successful tender offer for some $26 million of its common stock at $42 a share. In August, Kerkorian had picked up 22% of MOM's stock through another tender. Now his holdings will rise to at least 32% and perhaps to as much as 45% of the company's shares, depending on how much...
...nationalized railways struck for seven days, halting 60% of France's trains and stranding hundreds of families home-bound from vacation. The trainmen finally settled for about a two-hour reduction in their 46-hour work week. In Paris, a wildcat strike of subway workers brought the underground Metro's 17 lines to a virtual standstill. When bus drivers joined in, as so often before, Paris became a city of pedestrians and monumental traffic jams. Post-office workers served notice that they intend to walk off their jobs next week...
Last week the transportation committee of the Wayne County board of supervisors recommended a ban on jumbo jets at Detroit's Metro Airport. To expand the ramp, terminal and baggage facilities, it was predicted, would cost an estimated $6,000,000-and there is simply no money available...
...airlines can increase their profit by carrying freight in off-hours, is entering business because "there is just a fantastic opportunity for a person who wants to do something with himself, wants to change things, while at the same time making himself economically free." He will join Metro-Goldwvn-Mayer, where he will start at about $17,000 as manager of planning, a job that will take him into all parts of the company. "I had the opportunity to go into several jobs where it would be pretty much my own ball game, but I did not want that. Either...