Word: motorized
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Dates: during 1970-1979
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Caesars World has leased, for $2.5 million a year, the Howard Johnson's Regency Motor Lodge and plans to spend $30 million on renovations and a casino that will be 50% larger than Resorts International's. The gamblers' chips may be down by early next year. Japanese Restaurant Tycoon Rocky Aoki, president of the Benihana chain, and Financier Takashi Sasakawa have leased the old Shelburne Hotel for more than $1 million a year and are rushing to remodel it into a casino by spring. Further behind is Bally Manufacturing, which has leased a baroque landmark, the Marlborough...
...potential casino owner certain to be the subject of scrutiny is Morris Shenker, who put up $10 million to buy the President Motor Inn on the Boardwalk. Formerly one of Jimmy Hoffa's lawyers, he is part owner of the Dunes Hotel and casino in Las Vegas. Because of Shenker's links with a scandal-ridden Teamsters Union pension fund, he has been investigated off and on for more than 20 years by the Internal Revenue Service, the Securities and Exchange Commission, the Justice Department and the Nevada gaming commission. Mob activity in Atlantic City...
...typically high-powered week for the top executives of Ford Motor Co. All but one of them, that is. As managers met twice daily in corporate planning sessions with Chairman Henry Ford II at the company's "glass house" headquarters in Dearborn, Mich., President Lee Iacocca sat alone and unattended in his office, which adjoins the chairman's. He was undergoing the bitter wind-down to his firing by Henry Ford a week earlier, and his colleagues were continuing to speculate on what additional changes could be expected...
Power struggles are nothing new at Ford Motor Co., but the one that climaxed last week was a stunner. After weeks of futile maneuvering to save his job, Lee lacocca, 53, the harddriving, cigar-chomping president of the world's fourth largest manufacturing company, found himself quite bluntly sacked by his equally tough-minded boss, Chairman Henry Ford II. It was the culmination of months of behind-the-scenes quarreling between two of the auto industry's most respected-and often feared-executives. The end came for lacocca following a day of stormy meetings of the ten-member...
DIED. Ernest Robert Breech, 81, hard-driving executive who helped galvanize an ailing postwar Ford Motor Co.; following a heart attack; in Royal Oak, Mich. Son of a Missouri blacksmith, Breech showed a big-city flak for business management and a wizardry with figures that propelled him to the chairmanship of North American Aviation Inc. in the early 1930s. After Breech had vitalized the Bendix Aviation Corp, in a single year, a desperate Henry Ford n persuaded him to quarterback Ford's new management team. Breech arrived in 1946 to find what he called an "awkward and stumbling colossus...