Word: partnerships
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Dates: during 1940-1949
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Thunderbird's Egg. Southwest's majority owners, ex-Test Pilot John H. Connelly, 48, president, and Cinemagent & Play Producer Leland Hayward, board chairman, hatched the airline from their wartime partnership in the Thunderbird cadet flying schools (TIME, June 9, 1941) and their wartime cargo line across the Pacific. At war's end, with $2,000,000 in capital and the backing of such Hollywood bigwigs as Jimmy Stewart, Brian Aherne and Darryl Zanuck, they got a three-year experimental charter from CAB for their West Coast feeder service...
...financial tightrope. He had tried to engineer a pool to raise the price of Devoe & Raynolds common stock in 1926, had gone resoundingly broke to the tune of $3,000,000. He had piled venture on venture, money on money. In the '30s, he had formed a working partnership with Joseph Watkins, a cultivated, gracious man, like Brooks a native of Minnesota, a Harvard graduate, and a financier. They worked together, dined together, and made money together. Then Brooks seemed to lose his touch. Watkins was forced to supply more & more of the working capital. Deals went bad. Brooks...
Terrible-tempered Publisher Raymond Cyrus Hoiles, 69, who already owned six newspapers in five states,* bought the Odessa American, in partnership with 20 employees, for more than $200,000. Like the Chicago Tribune, whose editorials he reprints on days when his own spleen is small, Publisher Hoiles knows how to make people mad and make...
Nowadays, their 175-man construction gang does the entire job, from foundations to shell, but installations (plumbing, lighting, etc.) are farmed out to subcontractors. Since the Liberty partnership began operation, it has sold $6,500,000 worth of houses-at an average price of $14,000, an average profit of about 10%-and borrowed more than $5,000,000 to keep on building. Such narrow margins permit no dillydallying: before last week's 105-house sale, Liberty had already begun to lay the foundations for 47 houses in an adjoining area; they would be ready in about four months...
...whims of such tourists as Cornelius Vanderbilt (who liked to chew cold cigars), John Wanamaker (who asked "are you leading a Christian life?"), the Prince of Wales, later King Edward VII (who liked his beef well-done). On one of the jobs, César Ritz formed a lifelong partnership with an obscure chef named Auguste Escoffier...