Word: schencks
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That did it. The old lions of the movie industry-Nick and Joe Schenck, the Skourases, the Warners, the Cohns, Freeman and Zukor-came roaring out of their dens, heads up, alertly sniffing the trade winds...
...dark all through the postwar years, Hollywood was hitting the gloomy low notes again last week. Speaking to a mass meeting of some 4,000 M-G-M employees on the concrete areaway in front of sound stage 18, MGM's real boss, President Nicholas M. Schenck of Loew's Inc., spelled out the bad news in unvarnished detail...
...Schenck had slipped into Hollywood five weeks before, set up a round of interviews with MGM's key personnel, from Production Boss Dore Schary to Bathing Beauty Esther Williams. His conclusion: in the face of a box-office slump and skyrocketing overhead, the time had come for a rigid economy campaign...
...from 25% to 50% on income over $1,000 a week. Unlike 20th Century-Fox, which last year lopped up to 50% off the pay of its high-bracket personnel (but later restored most of it), M-G-M will not cut the pay of writers or directors. But Schenck left no doubt that the days of big-budget, spare-no-expense pictures were over. Best estimate of the total cutbacks: $10 million a year...
...restaurant started off modestly. The two largest sponsors -Jock Whitney and the late Bob Benchley, whom Mike had known during his New York nightlife era-subscribed only $350 apiece; Darryl Zanuck and Joseph Schenck, only $300 each. The total take was $7,200, $1,800 short of what Mike had hoped...