Word: raider
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Dates: during 1950-1959
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...Raider Louis Wolfson, who temporarily retired from the public eye after his unsuccessful attempt to gain control of giant Montgomery Ward (TIME, Oct. 8), was on the prowl again last week. He was casting a covetous eye on ailing American Motors Corp. ($2,994,613 loss in first quarter of fiscal 1957). Wolfson announced that he and his family have increased their holdings in the company by 110,000 shares to 350,000, giving him the largest single block, though only 6%, of the 5,670,430 shares outstanding...
...most Arab lands of the Middle East, young army officers with revolutionary social ideas and anti-Western feelings may be riding high. But they have yet to unseat Iraq's tough Strongman Nuri es-Said, 68, the coolheaded camelback raider of Lawrence of Arabia's World War I anti-Turk desert revolt, who boasts: "I was risking my life for the Cause of Arab independence before Nasser was out of his swaddling clothes...
...prime example of how a raider loots a company was spread on the record in the U.S. District Court in St. Louis last week. The raider: Sydney Albert, 49, who in the past two years, through a jumble of fantastic stock swaps, stitched together 70 companies into the Bellanca Corp., then saw most of it crash last June (TIME, June 25). The victim: St.Louis' venerable N. O. Nelson Co., a large plumbing-supply house. Only last autumn Nelson had twelve-month earnings of some $200,000, plus $500,000 in cash surplus, more than $2,000,000 in accounts...
...Raider Louis Wolfson, who parlayed a Jacksonville junkyard into a $240 million empire and attempted to gain control of giant Montgomery Ward, sounded a general retreat last week. He is getting out of Montgomery Ward and selling all his 59,000 shares (at an expected profit of about $750,000). Furthermore, he is thinking of selling the Highway Trailer Co., the Marion Power Shovel Co. and its subsidiary, the Osgood Co., all controlled by Merritt-Chapman & Scott, which Wolfson runs as chairman, president and chief stockholder (more than 157,000 out of 5,374,360 shares...
Died. Count Nikolaus zu Dohna-Schlodien, 77, wily, spike-bearded German sea raider whose auxiliary cruiser Moewe (Seagull), disguised as a cargo ship, twice ran the British blockade, destroyed an unequaled 50 vessels between 1915 and 1917; of a heart attack; in Rosenheim. Germany...