Word: rayons
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Dates: during 1960-1969
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...clangorous old cotton mill. When cottons sagged and real estate surged in 1923, Love sold the plant for $200,000 but kept the machinery. He moved it into a modern plant that industry-hungry boosters built for him in sleepy Burlington, N.C., and he swung into weaving rayon when other textilemen shied away from the crude, newfangled synthetic. The Depression struck, and Love grew rich as customers switched from costly silk to cheap rayon. At 40, he was doing a $25 million yearly business...
When his postwar rayon market faded as low-priced nylon came out and consumer tastes shifted, he bought his way into cottons and nylon hosiery. From 1952 to 1958 Love bought 18 key companies-often for a mere fraction of their real values. Last week, eying a new market, he was close to closing a deal to buy a major maker of carpets...