Word: motorizer
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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...
...head is Henry Ford II, but since last April, day-to-day control has belonged to Vice Chairman Philip Caldwell, 57, a cultivated executive whose calm manner is in marked contrast to the fire-breathing dynamism of Iacocca. In short, at this stage in the history of Ford Motor Co., Caldwell is clearly Henry Ford's No. 2 man, and the new president will...
...There is a lot of talk that the small businessman cannot make a mark in these days of high prices, costly credit and crushing competition. Maybe the skeptics and fainthearted should motor to California's green-carpeted Napa Valley and speak with Joe Heitz, entrepreneur...