Word: partner
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Dates: during 1950-1959
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Pour Out. Already integrated Soviet-bloc plans have driven East Germany ahead of Red China and Czechoslovakia as Russia's No. 1 trading partner, turning Soviet raw materials into every kind of machine from dynamos for Soviet dams to electronic components for Sputniks. The Russians are pouring millions of marks into making Rostock a major seaport, a substitute for East Germany's natural outlet of Hamburg. Under the grandiose new Khrushchev expansion plans, the Russians have agreed to give East Germany the equivalent of nearly $200 million in economic aid next year, and have assigned the East Germans...
CHARLES LUCKMAN, onetime wonder-boy boss of Lever Bros., has bought out Partner William L. Pereira, and each will form his own West Coast architectural business. Insiders say Luckman's razzle-dazzle rubbed against conservative Pereira...
...Wall Streeter whose advice is most often sought by U.S. businessmen is Sidney J. Weinberg, 67, who now has the oracle's seat once occupied by Bernard Baruch. As a senior partner of Goldman, Sachs & Co., one of The Street's top ten banking houses, Weinberg has won an enviable reputation as an underwriter skilled at judging the new issue market just right. His most recent success was selling $350 million of Sears, Roebuck debentures-history's biggest debt offering-in a bond market so soggy that some underwriters doubted the issue could be marketed...
...from P.S. 13"). One of eleven children of a wholesale liquor dealer, he never got farther than P.S. 13, started with Goldman. Sachs as a $3-a-week porter's assistant. After a World War I stint in the Navy, he became a securities trader, a Goldman, Sachs partner in 1927, helped to run investment trusts, including Goldman, Sachs Trading Corp., which proved to be a disaster. It fell from $232 to $2 after the 1929 crash. "Boy," says Weinberg, "that was a lesson...
Though he has amassed a fortune, estimated at between $2,000,000 and $5,000,000, Weinberg lives relatively simply, still commutes from the Westchester County (Scarsdale) house that he and his wife bought in 1923. He has two sons, one a partner in Goldman, Sachs and the other an executive at Owens-Corning Fiberglas. His chief recreation is his work; he shows only slight signs of slackening his pace. Says Weinberg, who takes only an occasional cocktail: "My grandfather drank half a pint of whisky a day and lived to be 90. Maybe...