Word: paimer
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Dates: during 1960-1969
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When trim John G. Paimer, 50, chairman of Australia's Ready Mixed Concrete, Ltd., decided to issue 750,000 new shares of stock in his company's British subsidiary, he and his colleagues were a bit worried by the shaky state of the London stock market. To their astonishment, British investors rushed in to oversubscribe the issue 60 times, thereby forcing a drawing to see who would actually get the coveted shares. The reason for all the enthusiasm: since Palmer, a New Zealand-born corporation lawyer, joined Ready Mixed as a director in 1945, the company has expanded...