Word: shermans
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...this week's cover story on Sherman Fairchild's interests and other growth companies, TIME revisits some old friends. As early as 1936, we reported on a young inventor named Edwin H. Land and his polarized lens; in 1947 we noted the advent of Polaroid's remarkable 60-second camera before it was marketed. A $35 investment in Polaroid that year would now have grown to $862. Texas Instruments, now selling at 214¾, was the subject of an April 1957 story when it sold at about 20. A June 1954 story on Ampex pointed out that...
...part of Fairchild Camera's magic lies in the man who lent it-and several other companies-his name: Sherman Mills Fairchild, 64. Fairchild talks about his present and future products with all the excitement of a 20-year-old with his first sports car. He is the epitome of the new scientist-businessman-inventor who is the driving force behind the success of the growth and glamour stocks. Cut from the same Yankee tinkerer mold as Ben Franklin, Thomas Edison and Henry Ford, he never got an engineering degree-yet has more than two dozen patents...
Perils of the Future. But all that has glamour may not always grow. What is the tomorrow of today's growth stocks? Sherman Fairchild, like many experts, believes that the indiscriminate buying of growth stocks "has gone too far." Though brokers are wary of saying flatly that a stock is selling too high, they realize that it is perilous to project earnings five or ten years into the future. Particularly in the growth sector, technology is changing so fast that a new product, a competing process, a better method hit upon by a competitor can collapse a stock...
Ticketed to start a three-month stretch in jail this week: Boston Textile Magnate Bernard Goldfine, 70, crony of ex-Presidential Aide Sherman Adams. Goldfine was convicted of contempt of a federal court after he refused to produce records bearing on an income tax evasion...
Newhouse's move was to buy the 40% block and rights to the 45% held by Sherman Bowles's immediate family. Even though employees hold voting rights to the family share through 1967, Newhouse is assured eventual control...