Word: sarasota
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...York's Franklin National Bank and San Diego's U.S. National, two of the biggest failures in U.S. banking history, and no depositors lost anything. Last year the FDIC lent $10 million to Southeast Banking Corp., enabling it to bail out the Palmer Bank Corp. of Sarasota...
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Died. Nathan Handwerker, 83, founder of Nathan's Famous, the Coney Island hot-dog emporium; following a heart attack; in Sarasota, Fla. Polish-born, Handwerker came to the U.S. in 1912 with $28 and much energy. He went to work in Manhattan as a delivery boy, moonlighting weekends at Feltman's, Coney Island birthplace of the hot dog. Encouraged by two singing waiters, Jimmy Durante and Eddie Cantor, Handwerker in 1916 took his savings of $300 and set up his own nickel hot-dog stand, slicing Feltman's price in half. The business grew into a multimillion...
Died. H.I. (for Haakon Ingolf) Romnes, 66, former board chairman of the American Telephone & Telegraph Co.; of leukemia; in Sarasota, Fla. Dubbed "the Mild Viking" for his Norwegian parentage and his quiet style of leadership, Romnes began his career as a phone installer, and as A T & T board chairman steered the giant corporation from $13 billion in revenues in 1967 to $18.4 billion...