Word: raskobs
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Brother Pierre. A senior and most revered du Pont is Pierre Samuel du Pont?broad, thick chin; gleaming forehead; ready smile. He is a Wet. About six months ago he took leave of absence to join his protégeé, John J. Raskob, in working for the Democratic party. The rest of the du Fonts are Dry and Republican. A polite fissure among the du Fonts and within G. M. C. was apparent while the campaign was raging. Now that it is over, Pierre du Font's interest is in The Association Against the Prohibition Amendment...
...Miami press-agents first tried to maneuver this meeting, but John J. Raskob snatched it from their greedy fingers. Eleven o'clock at Belle Isle was the hour. Smith skipped his breakfast to make it on time. With care he picked his Mtire?silk-faced cutaway, striped trousers, silk-topped patent leather button shoes, semi-formal overcoat with velvet collar. One hand picked up a cane; the other put a cigar in a mouth corner. The Brown Derby, above all, was set at an undefeated angle. Away streaked the baby-blue Rolls-Royce, minus any hooting police-escort. Cushioned snugly...
...bulls were not so fat and bears were not so lean, conservatives estimated that a stock which earned $10 a share should be selling at $100, or ten times its earnings-per-share. In recent years this ratio has been considered extremely backward. Thus, in March, 1928, John Jacob Raskob announced that General Motors should rise to 15 times its earnings-per-share, and the "15X" formula has become generally accepted with regard to industrials. Meanwhile, however, during the November bull market, many a stock rose far beyond the "15X" valuation, reached a price which could be justified by earnings...
...addition to electing their candidate, the Republicans also came out of the campaign with a treasury surplus of $285,000. Democrats, however, borrowed $100,000 from Mr. Raskob and $1,500,000 from the County Trust Co., Manhattan. As they spent all but $100,000 of what they were given and of what they borrowed, they now have a one and one-half million dollar deficit to increase post-election headache...
There are, however, some major differences between the two units. Direction of General Motors is divided, impersonal; Chrysler Motors, like the Ford company, is united under one chief.* General Motors uses the financial wizards of the Raskob-du Pont type; Chrysler relies chiefly on Walter P. Chrysler. General Motors is close to J. P. Morgan & Co.; Chrysler is the good friend of the Brady family and, more recently, of Dillon, Read & Co. General Motors has issued the huge total of 43,500,000 shares of common stock,† Chrysler only 4,423,484. General Motors sold 1,576,708 cars...