Word: ponting
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...Irenée Jr., for example, is president of the family-controlled Christiana Securities holding company, a director of the Wilmington Trust Co., the News-Journal Co., Delmarva Power & Light and chairman of the Greater Wilmington Development Council. The state's sole U.S. Representative is Pierre S. du Pont IV, a freshman Republican. Governor Russell Peterson is a former Du Pont executive. Together, Du Pont family, employees and associates make up 25% of the state legislature...
...undervalued for tax purposes. Irenée Jr. says that he knows nothing about any contacts made with Senator Williams in the family's behalf. To the other point, Vice President Irving Shapiro, the company's first Jewish director, replies: "If the accusation is that Du Pont is chiseling on existing tax laws, that's absurd. If the criticism is that tax laws should be changed, that may be needed...
...PRESS. Through Christiana Securities, the family owns 100% of the stock in the company that publishes the state's two largest and most influential newspapers, the Wilmington Morning News and Evening Journal. Creed Black, editor from 1960 to 1964, quit when a Du Pont public relations man was put in above him; the owners, said Black, obviously wanted "house organs instead of newspapers." But now, insists Irenée Jr., the editors "call the shots the way they see them." He says that if the papers were sold to two separate owners, as the report recommends, they would probably...
PATERNALISM. Du Pont pensions may be revoked even after retirement for "any activity which is harmful to the interest of the company." Governor Peterson got a written exemption, the report says, in case he had to act in office against Du Pont. What is more, adds the report, the company has fired employees who sought to bring in a national union. Shapiro says that in 30 years the pension revocation clause has been used in three cases, all involving salesmen who took customer lists to competitors. The company contends that it treats its employees so well that they have felt...
...Though blacks are 15% of Delaware's population, according to Equal Employment Opportunity Commission reports as of two years ago, the state's chemical industry had only 1.5% blacks in office and clerical jobs, .4% as chemists and engineers and none as salesmen. Irenée du Pont responds: "We'd love to have 15% blacks at all levels of employment, but the prime consideration is doing the job properly." He says that few blacks yet have the technical training required...