Word: millions
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Dates: during 1960-1969
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...Medical School will begin construction in July of a $4.5 million structure on Shattuck Street in Boston to house its new Laboratory of Human Reproduction and Reproductive Biology. The six-story building, designed by Architects Collaborative of Cambridge, is scheduled for completion in August...
Talent for Innovation. Boyd and John son are lawyers and longtime friends with a talent for innovation. Johnson came to the Illinois Central in early 1966 after rejuvenating the moribund Railway Express. He increased profits by 41% to $22 million in 1967; profits were still higher last year. Johnson raised the investment in new cars and track and computerized the line's traffic-information operation. At the railroad's Chicago commuter stations, he installed turnstiles that open automatically when a passenger inserts a magnetically coded ticket in a slot. Through a merger now awaiting approval by the Interstate...
...that stymied his efforts to bring the Maritime Administration under the department's jurisdiction and to relieve overburdened airports. In Boyd, the Illinois Central may also be getting some trouble; conflict-of-interest questions have been raised about the Department of Transportation's grant of $25.2 million to improve commuter services on the Illinois Central. The grant was made in December while Boyd was under consideration as the railroad's president. Boyd disassociated himself from the grant, but Secretary of Transportation John A. Volpe has promised to investigate...
...Illinois Central Railroad, succeeding William B. Johnson, 50, who will be come chairman while remaining chief executive. "W.B.J.," as he is known around the railroad's Chicago headquarters, will also continue to head the parent Illinois Central Industries. It is a holding company that owns more than $200 million worth of real estate and air rights in Chicago alone, and has lately acquired some manufacturing companies. Boyd will handle day-to-day railroad operations, so Johnson can pursue further diversification...
Keep 'Em Flying. Most important, MEA had shrewdly insured its fleet with war-risk policies that covered the full "book value" of the aircraft. Since the line valued the planes rather generously on its books, it figures to get $17.9 million from Lloyd's of London and other insurers - more than enough to replace the lost fleet. The true mar ket value of each of its three six-year-old Comet jets, for example, is about $400,000, but MEA listed each at $1,500,000 and paid appropriate premiums. MEA will also collect...