Word: motorboater
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Brunswick-Balke-Collender Co., which has diversified from bowling into school and sports equipment, has been looking for a boatbuilder. It lost out on Chris-Craft Corp., the nation's largest motorboat maker, to NAFI Corp., which is controlled by Wall Street's Shields & Co. (TIME, Feb. 15). After helping to close the Chris-Craft deal, famed Yachtsman Cornelius ("Corny") Shields Sr., a Shields & Co. partner, pondered a way to see Brunswick into the boat business. As a director of the Owens Yacht Co., the nation's No. 2 builder of pleasure crafts (1959 sales: $15.3 million...
...nation's biggest motorboat builder, privately owned Chris-Craft Corp., has long been considered a catch by merger-minded corporations. Both Singer Manufacturing Co. and Brunswick-Balke-Collender Co. recently made offers to Chris-Craft Chairman Harsen Alfred Smith (TIME cover, May 18, 1959). This week the prize was won by NAFI Corp. (formerly National Automotive Fibres), which has diversified into oil and television. The price: $40 to $45 million in cash. NAFI is controlled by the Wall Street brokerage firm of Shields & Co., one of whose partners is famed Yachtsman Cornelius ("Corny'') Shields Sr. (TIME cover...
...leader of the heavily favored Alliance Party, Tengku (Prince) Abdul Rahman, 56, quit his job as Prime Minister four months ago to barnstorm throughout all eleven states of the federation by motorboat and car. Cambridge-educated and a descendant of ancient Mongol conquerors of Malaya, he plumped for more education and economic development, said, "I was truly astounded by the ignorance in some places." Before upcountry pagodas and in front of east coast mosques, he greeted crowds by crying Merdeka (freedom) and arguing commonsensically that "there is too much talk about differences of race, religion and class rather than about...
...When I see a motorboat coming," says one shaky sailor from Baltimore, "I say to myself, I am a sailboat; I have the right of way. Then I get the hell out of there." Investment Banker Julian K. Roosevelt (of the Oyster Bay Roosevelts) recalls the day on Long Island Sound when a power boat pulled alongside his father's 60-ft. schooner Mistress. The intruder bellowed: "Hey, Mac! Which way to port Jefferson?" Says Roosevelt with deep satisfaction: "I answered him in his own way and said, 'First turn to your right, Mac!'" Harrumphs a fellow...
Like the automakers, the motorboat makers are shifting away from yesteryear's jukebox styling. The 1959 models have toned-down colors, trimmed-down fins, less chrome. There are also fewer extra-cost gadgets. Said President Sherwood Egbert of the Outboard Motor Manufacturers' Association: "Instead of bringing out a huge array of new accessories, we have settled down to making our product more reliable, cheaper to operate...