Word: money
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Dates: during 1960-1969
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...salary the Tigers are paying McLain this year. And next year Denny plans to hit Tiger General Manager Campbell for a $65,000 raise?to an even $100,000. Yet despite the steady influx of cash, he continues to demonstrate his need for help by spending money as if it were going out of style. Just last month Denny was sued by Diners' Club Inc. and S. S. Kresge Co. for a total of $1,120 in long-overdue bills that he had simply forgotten. His business manager quickly settled the suits by sending off checks...
...fact that does not fail to impress the raw material-hungry Japanese. Russia has tried without much success to make Siberia an economically profitable territory. At the same time, Japanese businessmen have had their eyes cocked on Siberia as a place where they might make a lot of money. The Russians, however, have always resolutely tried to shut the Japanese out. That impasse has now come...
Landlord's Profits. Most mutual funds invest their shareholders' money in stocks and bonds, but U.S. Investment Fund puts 70% of its revenue into income-producing U.S. real estate. Moreover, the fund sells its shares only outside the U.S. to non-U.S. citizens in order to avoid supervision by the Securities and Exchange Commission. Last week the fund's realty holdings passed the $100 million mark as it bought Ling-Temco-Vought's 32-story headquarters building in downtown Dallas for $16.5 million. L.T.V. will lease the space it already occupies, and the fund will...
...also founded Manufacturer's National Bank of Hialeah (assets: $10 million) and become a director of Hamilton Life Insurance Co. Though his first love was politics ("I thought the greatest thing in the world would be to be a U.S. Congressman"), Barish decided to concentrate first on making money. He took aim at a hitherto overlooked market: foreign investors eager to put funds into the U.S. but imbued with a traditional preference for real estate rather than stocks and bonds...
...tender offer to give Riklis' Glen Alden Corp. 88% control of the big distiller (1967 sales: $518 million). Fat with $323 million in working capital, Schenley was a tempting merger plum. As befits Riklis' guiding philosophy-described as the art of buying companies with their own money-Glen Alden is paying for Schenley mostly with promissory paper. For each H Schenley shares, worth about $85 in the stock market, Schenley stockholders get $13 in cash; they also get a $100 debenture that pays 6% annual interest until its 1988 maturity. Riklis can thus tap 20 years of Schenley...