Word: shankses
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The crystal-ball gazers who try to chart the course of the U.S. economy usually hedge any predictions with plenty of ifs and buts. Last week the U.S. got a refreshingly different kind of forecast from Carrol M. Shanks, president of the Prudential Insurance Co., second biggest in the U.S...
After weighing such facts, Prudential Insurance Co. issued its usually accurate annual new-year prediction: 1958 will see a $3 billion dip in capital expenditures, but this will be offset by a rise of $5 billion in state spending and $1 billion in home building. Said President Carrol Shanks: business...
Nevertheless, Carroll M. Shanks, president of Prudential Life Insurance Co., said that there must be no relaxation of present monetary controls. He told the Economic Club of Detroit: "Under present circumstances controls must be applied more steadfastly and for a longer period" in order to shake some of the "superconfidence...
Two years later, at 47, Carrol Shanks was the Prudential's boss. Franklin D'Olier opened a board meeting by announcing that he wanted to move up to chairman. "And here," said he, pointing to Shanks, "is your new president."
Agents & Actuaries. Since then, Shanks's biggest fight has been to revitalize the Pru. When he took over, it was an empire of some 40,000 employees, counted annual sales of $1.8 billion, total insurance in force of $23.7 billion. Yet Shanks thought the company was sitting on its...