Word: millions
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Dates: during 1960-1969
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...Manhattan Bank controlled 1,500,000 more shares of Pan Am. He invited a number of Chase officers down to the Bahamas to inspect his Paradise Island complex of hotels and a gambling ca sino. The bankers thereupon agreed to sell their Pan Am stock, then worth about $39 million, for a complex pack age of Resorts' notes and warrants...
...later bought most of Huntington Hartford's interests on Paradise Island and sold the paint-making part of the business. Resorts International appeared to be well managed, but more than half of its profits depended on roulette and craps tables. It had a call on about $93 million worth of Pan Am stock, while its own net worth was only $6,000,000. Pan Am's Gray could find "nothing of benefit" in an affiliation with Crosby...
...adversaries, Aristotle Onassis and Stavros Niarchos. For the past dozen years, they have clashed over business deals with almost the same fervor that they seek to outdo each other in their personal lives. The spoils have been about equally divided. Niarchos, whose estimated wealth is just under $500 million, won the license to run the country's first oil refinery and vast shipyards. Onassis, who is worth just over $500 million, got the national airline concession...
...latest feud began when Greece's ruling generals early last year offered another refinery concession to whichever bidder proposed to finance and build the most additional industry to go with it. At first Onassis beat out Niarchos with a proposal for a $400 million complex containing the refinery as well as an alumina works, a thermoelectric plant, shipyards and many projects to attract tourists. Altogether, that represented the largest industrial investment in Greek history...
...weeks ago Niarchos counterattacked. A spokesman announced that he was offering the Greek government an investment of $500 million in return for the new refinery concession. Since this topped Onassis' bid by $100 million, the government was delighted. The Economic Coordination Minister, Nicholas Makarezos, declared: "This contest is all for the good of the nation. It means the refinery will be awarded under the best possible terms...