Word: semenenko
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...years as a roving loan officer for the First National Bank of Boston, Serge Semenenko doctored many an ailing corporation back to health with heavy doses of credit. Rarely, if ever, did the bank lose money on his risky loans. Thus, when Semenenko, 63, retired last month as vice chairman and head of First National's "special industries" division, the Brahmins he had worked for made appropriate farewells. The bank and its directors, said Chairman Roger Damon, "look forward to a continuing relationship...
Last week it looked as though Damon's vale had held a double meaning: there was an unsolved matter of $ 1,000,000 and who it belonged to. Semenenko was out of touch on a yacht cruising the Mediterranean, but from Boston came word that he had agreed to turn over to the bank a $1,000,000 fee due him over a ten-year period for "special services" to Moviemaker Jack L. Warner. One such service: arranging the sale last year of Warner's stock in Warner Bros. Pictures Inc. to Seven Arts Productions Ltd., which Semenenko...
...successful banker, Semenenko is also a controversial one. He has been criticized in the industry and in Washington for investing in such firms as Curtis Publishing Co. personally while doctoring them professionally. He has also been castigated for borrowing from charitable foundations to finance personal investments. Ethics aside, there was presumably nothing illegal about such transactions, nor in the $1,000,000 fee. But when First National opened an investigation, Semenenko promptly agreed to turn the fee over to the bank because, said an associate, "it had become an issue and because he has the bank's best interests...
...million, which could wipe out most of Curtis' $28 million bank debt -down from $36 million after the sale of Curtis' Lock Haven, Pa., paper mill earlier this year. "We are over the hill," says the vice chairman of Boston's First National Bank, Serge Semenenko, the financier who put together a $35 million loan for Curtis in 1963 and has been riding herd on the company ever since. "The first phase has ended," Semenenko says. "That was to save the company. The second phase is about to begin: an infusion of talent, brains, funds; possible acquisitions...
...mills to the printing and distribution of its magazines. Such integration saved money as long as business was brisk and Curtis' own magazines enjoyed heavy sales. When business slackened, the paper and printing plants were forced to operate well under capacity. "We are now down to bedrock," says Semenenko, who doubts that any more Curtis assets, including the venerable office building in Philadelphia, will be sold...