Word: ownership
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Dates: during 1960-1969
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...surprisingly good show. For more than a month, the flamboyant quarterback of the champion New York Jets had most of his fans-and himself to boot-convinced that he was going to quit football. Professional Football Commissioner Pete Rozelle had ordered him to give up his part-ownership of the Manhattan gin mill Bachelors III, and to quit hanging around with the hoods and gamblers who populated the joint. Namath pleaded that he was being made a victim of guilt by association. In a tear-stained press conference last month, he said: "The last thing I want...
...petrochemical plants worth $100 million. Last March, only one month after McKee appointed him joint managing director, CTIP's Gian Vittono Cavanna started secret negotiations with Technip, a French government-owned engineering firm. Without telling McKee, Cavanna signed a general agreement calling for a reshuffling of CTIP ownership among Technip, McKee and Italian companies. The idea was that divided leadership would enable CTIP employees to run their company themselves, rather than let tight control remain with the parent organization in the U.S. Despite the threat of a costly walkout, CTIP's McKee-controlled executive committee fired Cavanna...
...Public ownership has been studied and restudied ever since Merrill Lynch suggested the idea in 1963. The issue was brought to a boil in May, when Donaldson, Lufkin & Jenrette, an aggressive company that specializes in institutional business, needed new sources of capital to finance expansion, and announced that it was willing to quit the exchange in order to go public. Since then, Chairman Daniel J. Cullen of Walston & Co. has said that his firm will go public if the exchange approves. Members of regional exchanges have also started pressing for permission to sell stock...
...many problems involved in public ownership and volume discounts, the Wall Street Establishment can no longer afford the luxury of putting off its decision. The SEC and the Justice Department have made clear that they are ready to step in, if necessary, to open up the club and reduce the commissions on big trades...
Even before the Burger decision, the FCC early this year denied a license renewal for Boston's Channel 5 on the ground that the station's ownership by the Boston Herald Traveler created a news monopoly. In San Francisco, KRON-TV has run into license-renewal delays because the FCC is investigating whether its ownership by the San Fran cisco Chronicle constitutes undue concentration of media control. Because of interlocking ownership of professional sports teams by its parent company, and in turn, its owners, WCCO-TV in Minneapolis is charged by its rival station with having a monopoly...