Word: schine
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Dates: during 1940-1949
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When he bought control of Los Angeles' Ambassador Hotel, Multi-Magnate J. Myer Schine (movie houses, hotels, real estate) thought he had a plush as well as a profitable property. It was profitable, all right: the net matched his investment of $1,600,000 in less than two years. But after Schine invited Designer Norman Bel Geddes to look the place over last summer, he changed his mind about the plushness...
Designer Geddes was so convincing that Schine last week announced plans to spend upwards of $10 million, under Geddes' direction, doing over the hotel and making it more than double its present size. Items: spacious (25-by-21-ft.) rooms with two baths and a balcony, a roof swimming pool with a beach of washable rubber-composition sand. On the six city blocks of empty land that surround the present building, Geddes and Architect Paul Williams, who is collaborating on the plan, will build 500 bungalows connected by a tunnel system to the hotel room service...
...addition to the Ambassadorship, there is a multi-million-dollar project for Schine's swank Boca Raton Club near Fort Lauderdale, Fla. Geddes, who regards the earth as well as buildings on it as fair game for rearranging, has started bulldozers reshaping the land around Boca Raton. Objective: a gently rolling, foursquare-mile plateau with just about the highest elevation (16 ft.) in the area. On it will be built a community of de luxe "cottages" that will sell at from, $20,000 to $50,000 apiece...
...Hollywood, the antitrust division found that it had to go farther. The same suit named Columbia, United Artists and Universal. It buttressed its case with suits against Griffith Amusement Co. (with theaters in 85 towns in Oklahoma, Texas and New Mexico) and the Stanley Co. Also sued was Schine Theater Co. (150 theaters in six states), owned by J. Myer Schine (TIME, Dec. 23, 1946), a small-town boy who still lives at Gloversville, N.Y. (pop.: 23,000). (In his spare time, Schine also put together a chain of nine hotels, including Florida's swank Boca Raton Club...
...Held that the Griffith, Schine and Stanley chains had monopolized the movie business in their areas, and ordered the district court to pronounce a judgment that will strip the defendants of "the full dividends of their monopolistic practices." In effect, a ceiling was put on the growth of regional chains...