Word: ratliff
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Dates: during 1950-1959
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Trouble erupted in November, when Reporter James Ratliff Jr., who had led the employees' campaign, accused top management under Publisher Roger Ferger of feathering its own nest at the paper's expense. Ratliff lost his job, but gradually began winning his demands for a management shakeup...
What gave Ratliff and his friends their bargaining power was the quiet support of marble-faced old (74) Harold L. (Harry) Stuart, head of Chicago's Halsey, Stuart & Co. and one of the country's top financiers. It was Stuart who floated $6,000,000 in loans to swing the Enquirer deal and who still holds $1,500,000 in debentures, which are convertible into stock. The stock would give its holders working control of the paper...
...Stuart was no less firm with the Ratliff faction, and impatient with their failure to win the battle with Ferger. Last week he called in Ratliff, told him he had decided to sell his interest in the Enquirer. "Might as well get out while there is a chance," he said. "Under this management, I don't think the stock will ever go up." Ratliff argued-as he had before -that Stuart himself could change the management. The banker's reply: he had no desire to run a newspaper...
...give either paper a total of 70% of the city's advertising and circulation, might draw frowns from Government trustbusters. At week's end there were plenty of other possible buyers. Stuart counted 15 inquiries, including one from a major paper in New York or Chicago. Gloomed Ratliff: "We're licked...
...fight over control of the Cincinnati Enquirer appeared to have reached a truce last week. It began when Reporter James H. Ratliff Jr. and City Editor Jack Cronin charged top management with feathering its own nest at the paper's expense-and promptly lost their jobs (TIME, Dec. 5 et seq.). But last week stockholders overwhelmingly re-elected Reporter Ratliff to the Enquirer's board of directors. Assistant Publisher Eugene Duffield-one of the employees' main targets-announced his resignation, and Publisher Roger Ferger, whose annual earnings of as much as $104,700 had come under fire...