Word: reals
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Dates: during 1960-1969
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...president and principal owner of the real estate firm of Helmsley-Spear Inc., he manages properties worth $1.5 billion by his own estimate. He also controls two rival Manhattan realty companies and personally shares in the ownership of dozens of profitable buildings, many of them operated by his own firms. Among his holdings: the Empire State Building, still the world's tallest, two high-rent Beverly Hills apartments, Brooklyn's industrial Bush Terminal and Manhattan's St. Moritz and Carlton House hotels...
Helmsley is busy building two Manhattan skyscrapers and a hotel that will face Central Park. This may seem like enough to keep him occupied, but his appetite for real estate is still growing. Last month, he agreed to buy the stock of the Furman-Wolfson Trust, which owns property valued at $167 million in a dozen cities. It will cost him, he figures, $75 million in cold cash...
...have for two weeks been meeting morning, noon and night behind closed doors. Why the urgency? "This is the most important traffic conference in history," says IATA Director General Knut Hammarskjold, nephew of the U.N.'s late Dag. "It takes place at the beginning of the era of real mass international air travel...
Even as it was talked about in Cannes, Hammarskjold's "new era of real mass air transportation" was taking physical form 7,000 miles away in Everett, Wash. Towed out of a huge Boeing Co. plant came the first aircraft of the new era: the 747 "jumbo jet." After considerable ceremony, the gigantic plane was turned over to technicians to be prepared for its first test flight. Although that flight is not scheduled until December, the 747 is very impressive even on the ground, and its potential is immense. The plane is 231 ft. long, will have a fully...
Still, strains of Straus are unlikely to fade quickly, if at all. Jack Straus says that he has "no timetable for stepping down entirely." And there are more Strauses on the way. Among the real comers at Macy's is Vice President Kenneth Straus, Jack's son. At 43, he has plenty of time to step...