Word: sales
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Dates: during 1960-1969
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...Italy's largest real estate firm, Società Generale Immobiliare (assets: $175 million), which has not only dotted postwar Italian cities with tower apartments but erected similar projects in Montreal, Mexico City and Washington, D.C., including the capital's most In address, Watergate. When word of the sale leaked out, jitters swept the Milan stock market; brokers feared that a liquidation of Vatican securities holdings might depress stock prices generally. Italian newspapers speculated that the Vatican was pulling its money out of Italy to avoid paying a dividend tax that has been a source of contention between...
Escaping the Onus. Actually, the sale of Immobiliare reflected the Pope's decision that church control of major Italian companies had become a liability. The Vatican owns some $200 million worth of stock in Italian firms. The church until recently either controlled or owned a substantial part of at least a dozen important enterprises, including cement-making Italcementi, paper-manufacturing Cartiere Burgo, pasta-making Molini Biondi and Vianini, a major engineering firm. The investments provide a handsome income to help defray the huge cost of running the papal establishment. But social unrest is growing in Italy. Anxious to align...
Foam-Rubber Swords. Nonliterary objects offered for sale in the Whole Earth Catalog range from the practical to the whimsical, from power tools and tractors to "Boffers"-$11 foam-rubber swords that the catalogue calls "the first significant advance in weaponry since the encounter group." The Ashley Thermostatic Wood Burning Circulator is an $80 Franklin stove, equipped with a thermostat, that will go up to twelve hours without refueling. The Inquiry Box is a $19.96 gadget designed to teach theory building and theory testing: "By pulling and pushing the things that stick out and by poking around inside with...
...Fire Sale. For Storer, which acquired its Northeast stock from Hughes Tool Co. in 1965, the deal makes sense. True, Northwest will give only one share of its stock, worth about $35, for five Northeast shares, which traded at a total of almost $70 just before the announcement. Individual shareholders in Northeast will take a drubbing, and they have started to organize and protest; but even at the fire-sale price, Storer will get out with a profit. It has put $35 million into Northeast, and will receive Northwest stock currently worth around $38 million, plus a Northwest promise...
David Guberman '71. Harvard coordinator of the Youth Committee to support the GE workers, asked the Coop yesterday to discontinue the sale of GE products. The non-obstructive picket will continue in front of the Coop on business days until the management agrees to "withdraw GE merchandise from the shelves...