Word: sarnoffs
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Cleon B. White of the National Broadcasting Company acted as Master of Ceremonies. The Freshman committee consisted of: Richard R. Flood, chairman; Elliott Bacon, John C. Bowen, Charles Burwell, George Earle, William C. Flynn, H. Rushton Harwood, Donald McDonald, Hugh McNeil, Robert W. Sarnoff, and Clifford W. Wilson...
Richard R. Flood has been appointed chairman of the Freshman Smoker Committee. His assistants will be Elliot C. Bacon, John F. Bowen, Charles L. Burwell, George H. Earle, 4th, William C. Flinn, Harry R. Harwood, Donald MacDonald, Hugh L. McNeil, Robert W. Sarnoff, and Clifford W. Wilson...
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...
...shares. This meant about a 41% increase in common shares, and some 5,400,000 new shares among which to divide the profits. Radio Corp.'s 1935 earnings, announced along with the plan's presentation, amounted to $5,100,000. Assuming (recklessly) that Mr. Sarnoff was willing to pay out all his profits in dividends, 1935 earnings would come to a little under 28? a share on 18,500,000 shares. The B holder, with 7 common shares, would get $1.96 for each B share now held, which was better than the zero dollars he has received...
...Lehman Bros, bought working control of RKO from RCA (TIME, Oct 21), soon followed this step by installing dapper Leo Spitz as RKO president (TIME Nov. 18). At the same time, RKO's President Aylesworth became RKO's Chairman Aylesworth, and RKO's Chairman David Sarnoff moved out. Observer thought that these moves indicated banking rather than radio influence in RKO affairs, were surprised last week that Mr. Aylesworth's burden continued to be s heavy...