Word: sheratons
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...Cadillac"). From the mainland, too, came fresh capital and nien with big ideas. Pink-cheeked Millionaire Industrialist Henry J. Kaiser jolted the Big Five by plunking down $18 million for an apartment-hotel resort called "Hawaiian Village," starting a $350 million "dream city" in Oahu's Kokohead area. Sheraton Hotels took over four splendid Waikiki Beach hotels, including the Royal Hawaiian and Moana, and made them pay. The venerable Bank of Hawaii brought in a new president from California, Rudy Peterson, and Peterson in turn brought with him such surefire mainland business-getters as charge accounts for credit loans...
Much of the same crew will turn up on the grounds of the six-story, yellow brick Sheraton Hotel in French Lick, Ind. to blow to an audience sprawled on the lawns and perched in the surrounding oak trees, and in Toronto for a four-day blow at Exhibition Park. Both shindigs, together with the Boston Jazz Festival, are the handiwork of Newport Impresario George Wein, who advertises his various wares under the slogan, "Have Festival, Will Travel." Survivors of Newport are also expected this summer in the eucalyptus-fringed Hollywood Bowl (the First Annual Los Angeles Jazz Festival...
Battle Hymns & Electoral Votes. The week began amid a Dixieland band smash of Runnin' Wild! and Ain't She Sweet? as the President walked into a $100-a-plate Republican dinner at the Sheraton-Park Hotel with Mamie Eisenhower on his arm. Ike gave the 3,000 guests no soothing syrup...
...What a life!" murmured one of a group of officers of the International Chamber of Commerce. He was commenting not on the pressures of his job, but on those of the President of the U.S., who last week dropped by the I.C.C.'s meeting at Washington's Sheraton-Park Hotel. President Eisenhower, just returned from a 15-day golfing vacation at Augusta, shook his head, cracked: "After two days home, I'm about ready to go back...
...expansion costs have cut profits. Last week Sheraton announced that earnings for the six months ended Oct. 31 dipped to $1,810,881 from $2,481,549 in the same period last year. Another reason for the drop was that a subsidiary, Thompson Industries, Inc., which Sheraton bought in a burst of diversification in 1946 and which has grown into a $23 million-a-year auto-parts maker, suffered from the auto recession. Also, Sheraton has been building and buying so much that it plans soon to float a $25 million nonconvertible debenture issue carrying a fat 7½% interest...