Word: millions
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Dates: during 1960-1969
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...will increase to 11,000 by next year. Haughton was equally pleased that with last week's order, Lockheed had outflanked rival McDonnell Douglas, whose DC-10 is a similar air bus. McDonnell two months ago sold 25 DC-10s to American Airlines at $16 million apiece; American also has an option to buy 25 more. Lockheed's response was to slash L-1011 prices from $17 million to $15 million each, and coolly advise prospective customers to buy fast-before the price went back...
Backed by massive annual research out lays of $20 million, Alcoa's scientists have developed such unlikely new products as aluminum "ice cubes," which have to be cooled in the refrigerator like ordinary ones but have the great ad vantage of being reusable. Alcoa has also come up with a host of innovations in manufacturing techniques. With new production processes paying off in lower costs, the company has doubled annual profits during the past four years...
Some two years ago, Wall Street whiz-bang Meshulam Riklis assigned himself a Herculean task. He aimed to take over Schenley Industries, Inc., one of the nation's biggest distillers (1967 sales: $518 million), through a merger with Glen Alden Corp., part of the $1.4 billion sales complex that Riklis, 44, has shuffled together...
...month when he went to Miami to make his case at Rosenstiel's winter lome. His offer was one that not even Rosenstiel could turn down. For 945,000 Schenley shares owned or controlled by Rosenstiel, Riklis agreed that Glen Alden would fork over a cool 575 million-or $80 a share for stock hat had been trading for around $65. Last week, with the Rosenstiel stock in hand, Riklis was readying an offer, valued at $410 million, for the remaining Schenley stock...
Backed initially by a group of Minneapolis investors, in less than a decade Riklis spun together a retailing empire under the Rapid-American Corp., which controlled McCrory Corp. whose 1,500 stores (McCrory-McLellan-Green, National Shirt, Lerner) racked up $554 million in sales in 1962. By then he was vastly overextended. When grandly predicted earnings failed to materialize, McCrory's stock tumbled and Riklis' entire colossus seemed headed for collapse. "God," wailed Riklis at one point, "has added to our agonies...