Word: odlum
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Dates: during 1950-1959
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...FLOYD B. ODLUM Indio, Calif...
...into a foundation; a corporation may deduct 5%. In some cases, the saving in taxes almost equals the cost of philanthropy. A foundation can also be used, as was the Ford Foundation, to help a family retain control of a company, or to promote a pet idea, e.g., the Odlum-Cochran Foundation spends some of its money on psychic research, a hobby of Financier Floyd Odium's wife. From a businessman's point of view, probably the most important byproduct of a foundation is the good will created for a company...
...FLOYD ODLUM'S ATLAS Corp., already one of the biggest uranium miners, is growing still bigger. For $7,250,000 Atlas bought more than 50% of the Almar uranium mine through purchase of Almar Minerals Inc., which owns about 15,000 acres with at least 600,000 tons of ore in the Big Indian area of Utah. Total Atlas uranium investment: $37 million...
...FLOYD ODLUM is nearing agreement with Howard Hughes on a deal to merge his Atlas Corp. with Hughes's RKO Pictures Corp., the parent holding company that Hughes retained after selling off its moviemaking subsidiary, RKO Radio Pictures. Under the deal, Odium will issue one share of Atlas stock for each 5% shares of RKO. In return, he will get no plants or production, but some important assets: $15 million worth of U.S. Government bonds and a $30 million capital-loss tax carryover, which Odium can apply against profits in other ventures...
...biggest claim buyer of all is Atlas Corp.'s Floyd Odlum, who bought out Vernon Pick's Delta uranium mine for $9,000,000 (TIME, Sept. 6), is now on his way to gathering up the biggest acreage. His Federal Uranium Corp. will combine his Federal Uranium Co. with six companies (Kentucky-Utah Mining Co., Western States Uranium Co., Interstate Uranium Co., Utida Uranium Co., Howell Mining Co. and Uranium Inc.) holding total claims with an estimated $6,000,000 to $7,000,000 in ore reserves. Much of the new buyers' rush is for Federal...