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...friend Robert Lehman. W. A. Harriman & Co. and Lehman Bros, headed the bankers who raised $38,000,000 for Aviation Corp. when it was formed in 1929. Friends of Banker Harriman understood that he aspired to be in aviation what his late famed father was in railroading. At the outset the Aviation Corp. structure was loose. Its subsidiaries numbered 80, included unrelated small lines, charter services, schools, factories. (The list is now about 20.) The company grew to be not the titan that United Aircraft & Transport is but an extremely potent and coherent transport system holding...
...time. His appraisal of the man differs markedly from that of Rockefeller's early muckrackers, William D. Lloyd and Ida Tarbell, who wrote before the great philanthropies had mellowed public sentiment and mergers had become respectable. These critics were dominated by the competitive ideal which Rockefeller perceived at the outset as false and inapplicable to the exigencies of the business situation and which we have more recently come to doubt as sound public policy. Valid criticism of Rockefeller should be based upon his lust for profits. The Standard Oil showed as little consideration to its customers...
...Broadcasting System, Inc., with offices in Manhattan. Its main purpose is to sell programs to advertising agencies and stations. Producer Arthur Hopkins (What Price Glory?, Paris Bound, Burlesque, The Jest) is associated with him, will obtain theatrical talent. Ota Gygi, a violinist, will handle the musical end. At the outset the company had $1,000,000 of business in hand but would reveal the names of no clients except The Texas Co. Both Mr. Wynn and Mr. Hopkins will continue their other theatrical work...
...deal that effected the Roosevelt-Garner nomination came as the climax to a four-day convention struggle. At the outset after the keynote speech (TIME, July 4) Manager Farley established his clear Roosevelt majority of 100 votes or more by winning delegation contests from Louisiana and Minnesota and electing Senator Thomas James Walsh permanent chairman over Jouett Shouse. But those same ballots nailed down the anti-Roosevelt States?California, Connecticut, Illinois, Indiana, Maryland, Massachusetts, New Jersey, New York, Ohio, Oklahoma, Rhode Island, Texas, Virginia?as a minority strong enough to veto any nomination...
There being no hard feelings, the innumerable Siamese Princes arrested at the outset of the coup d'état were all set free last week-all except domineering Prince Paribatra whom it was thought best to keep locked up for a while...