Word: partner
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Dates: during 1950-1959
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Into the Money. After war's end, the Wall Street investment firm of Kuhn, Loeb & Co. astonished Lewis Strauss by offering him a job at a five-figure starting salary. A Kuhn, Loeb partner, passing through Hoover's headquarters in Paris, had spotted Strauss as a truly promising young man. He was right. Sometime Shoe Salesman Strauss prospered spectacularly on Wall Street, pushed Kuhn, Loeb into highly profitable steel-company financing (Inland, Republic, Great Lakes), became a full partner at 32, piled up a fortune...
...international assignments: he was counsel for a group of U.S. bondholders in the collapse of the Kreuger & Toll Swedish match trust, handled legal work on the $125 million J. P. Morgan & Co. loan to defeated Germany to help pay reparations. At 38 he became Sullivan & Cromwell's directing partner. It was then, according to one friend, that "young Foster adopted that dour expression, partly out of respect for the old fossils of 50 or 60 with whom he had to deal and partly to mask his own precocious youth...
Career: Joined Philadelphia's solid Drexel & Co. investment house, sold securities, rose to partner in 1940, became a civic wheelhorse in Philadelphia's Associated Hospital Service, Child Guidance Clinic, Boy Scouts, Navy League, also served as a private in the National Guard. Commissioned in Navy intelligence in 1942, he sailed in major campaigns (Southern France, Philippines, Okinawa, Iwo Jima), performed gallantly (two Bronze Stars), was mustered out as a commander after 42 months, rose to captain in the Reserve and retired...
...Canada about to bow out as a full partner in manning NATO's European shield? Until a few months ago, any such notion was inconceivable. Yet in the letdown after Ottawa's cancellation of the all-Canadian Avro Arrow jet interceptor -which the government used as the occasion to write Canada off as a military air power (TIME, March 2)-some members of the Conservative government want to cut back Canada's contribution to NATO. Last week NATO's General Lauris Norstad spent 2¼ hours before Canada's Cabinet in worried entreaty for renewed...
Occasionally, the hard trading instincts of M.I.T.'s trustees have softened ever so little. The trustees once decided that the liquor industry was a good investment, decided to try whisky stocks. When Vance, Sanders got wind of the plan, it was horrified. A partner gathered up the cards of 1,200 M.I.T. shareholders, walked into a trustee meeting and threw them on the table. They represented Baptist institutions, Christian Scientists, Catholic convents, and other investors who might take a dim view of liquor-even in their portfolios. The trustees hastily backed down...