Word: shankses
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To some, the success of the Prudential's investment policy, spreading its wealth into big and little companies, is worrisome. Many a Congressman frets that insurance companies have accumulated too much power over too much of the U.S. Shanks has acted as spokesman for the industry in its defense...
Feasts & Fortunes. If the Prudential's Shanks is only too well aware of his sociological responsibilities, many of his predecessors in the industry could hardly have cared less about such niceties. In the early days of U.S. insurance, most firms were stock companies concentrated in the hands of a...
Fringes & Flints. As the Prudential's seventh president in 81 years, Carrol Shanks sits behind Old John Dryden's huge mahogany desk, in a suite of offices in Newark built in the days when insurance men spent heavily for purposes of prestige. Hand-carved Honduras mahogany frames the...
"I'd Hate to Think." Shanks rose swiftly, first as an adviser to the Pru's brass on their railroad securities, later as general solicitor for the company, finally in 1939 as a vice president. By 1944 he was the Prudential's executive vice president, second only...
Quietly and inflexibly, Shanks laid it on the line to state officials: either taxes come down or the Pru, one of the state's biggest taxpayers, would move out. The fight that followed was so rough that more than one vice president got sick and had to retire. Finally...