Word: recapitalizaion
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Having determined upon recapitalizaion smart David Sarnoff, RCA president got Joseph P. Kennedy, onetime SEChairman, to work out a plan for him. He thus took the onus of the plan off the shoulders the management, assured himself that the scheme would be presented under able impartial, authoritative sponsorship. Last week, after about a month's labor Mr Kennedy presented a plan to the RCA directorate, which promptly proceeded to approve it. Though Radio Corp.'s situation involved the two ticklish items in recapitalization-accrued dividends and several classes of stock- Mr. Kennedy tackled his problem with one great...
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