Word: ratliff
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Dates: during 1950-1959
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Eaton's role as an angel, said Reporter . Jim Ratliff, who led the employees' committee, will "end in a clean break as soon as we pay him off." Eaton, a political enemy of Senator Bob Taft, will be paid a fee (estimated at $250,000) for his financing help, may get it in stock if the employees so decide. Said Ratliff, "The paper's in our hands. Eaton will not control us now or then...
Headed by Jim Ratliff, a veteran Enquirer reporter, a committee of staffers quickly pledged savings, insurance and cash to raise more than $1,000,000 as a start towards buying the paper...
...Cruel Hoax." Ratliff and his committee, scurrying around in a hunt for outside capital, were forced to do most of their fund-raising after the paper was put to bed. During working hours, Ratliff himself dug up a series of beats on a local income-tax scandal that resulted in an indictment and a jail sentence for a Cincinnati doctor, Sidney Lange (TIME, April 21). But he was less successful with his own financing case...
...went to the court which must approve the sale, with his pledges, the bank called the employees' bid only "a piece of paper." One witness for the bank pointed out that it would be a "cruel hoax" to let the staff burden themselves with such an enormous debt. Ratliff and his lawyers answered that it was the employees who had made the Enquirer a successful paper, and that there is no reason why it will not continue to make money and pay off the debt. As a clincher, they offered to pay $7,500,000 in cash. The argument...
...deposit, was ready to sign a contract to pay the remainder. If the paper is sold to Portsmouth Steel, it will immediately sell it to the employees, collect when the bond & stock issues are floated. The court decided to reconsider. When all the complexities of the Taft and Ratliff bids were taken into account, it looked as if the Enquirer employees were actually offering $7,600,000 v. $7,586,000 by the Taft group. Said Reporter Ratliff happily: "Most of us are Taftmen, but we don't want to work for the Times-Star...