Word: options
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Dates: during 1940-1949
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...spry old Henry's hide. Willys, which has been hunting a president since Joseph Washington Fraser quit eight months ago, kept mum on details of the deal. But it was reported that in addition to Sorensen's salary (Ford paid him $220,000 yearly) he got an option on a sizable chunk of Willys stock.* Thus he would pay only a 25% capital-gains tax on any stock profit, provided he held the stock six months, compared to about 80% income tax on such a high-bracket salary-the device made fashionable by Harry Sinclair and Spyros Skouras...
...week's end, with Twentieth Century stock up to 24½, Skouras could already count on a small paper profit, barring unforeseen legal complications, if he took up his option. As far as Twentieth Century was concerned, this was all to the good. Said one official: "The company wants to keep him for the next ten, 15 or 20 years. They want...
Furthermore, many a thoughtful businessman has long believed that top managers should have a greater tangible stake in their companies, i.e., a sizeable stock interest. The new stock option plans are regarded by many as a step in that direction. As a clincher, Wall Streeters point out also that before any recipient of a stock option can benefit, all the other stockholders must benefit also. Said one, summing up the whole question: "If you believe in the incentive system what other incentive can you give them but money...
...This week, to assure war-plant supplies, WFA took a 60-day Government option on all corn in Midwestern counties...
...pipeline deal, so far only an "agreement in principle," provides that the Government will get its money back in 25 years of service charges, will also have a 50-year option on oil at a discount...