Word: sharing
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Dates: during 1960-1969
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...entertainment industry has its stuffier side, proving that variations in dress depend largely on what image a company is trying to project. A case in point is MCA, Inc., a film producer and recording company whose new aluminum-and-glass building in Universal City has more than its share of kookily attired production and clerical workers. Still, as one aide puts it, President Lew R. Wasserman is determined to "make the company look like a solid business operation." To that end, MCA's executives wear nothing but coal-black business suits...
Whatever they may be worth on the market, stock certificates have always had a certain value just hanging on the wall. Christmas shoppers have been known to frame a particularly handsome, ornately engraved share of stock for the man who has everything. Unfortunately, the beauty of certificates lies only in the eye of the holder. To those who buy, sell and keep them in trust, they are a constant headache...
...part of the market ever since 1901 when Founder James B. ("Buck") Duke stomped into London and tried to move into the industry. To keep him out, 13 British companies amalgamated into Imperial Tobacco, which is now Britain's largest tobacco company. Imperial later bought a substantial share of Gallaher. American nevertheless ended up with intercontinental marketing agreements and eventually 12.9% interest in Gallaher...
American decided to outmaneuver its U.S. rival by increasing its own share of Gallaher. Apart from prestige, one good reason for doing this was to take control of the company and use it as an English avenue for some interesting new products. English smokers are as taken by filters as American smokers, and American Tobacco Chairman Barney ("Brand-a-Month-Barney") Walker has plenty of brands for the British market, led by fast-selling Tareyton. In addition, Walker can also introduce through Gallaher such products as Mott's apple sauce, Sunshine Biscuits, and perhaps even Jim Beam bourbon...
...Bride Was Willing. Gallaher was inclined to accept the offer. "Independence is sweet," said Chairman Mark Norman. "But there comes a time when matrimony is attractive too." Cazenove, which had handled the sale of Imperial's stock in Gallaher (at $2.40 a share) knew just where to find the necessary shares (at $4.20). In one amazing hour of purchases, 12.2 million shares worth $51 million were accumulated in American's behalf...