Word: simon
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Dates: during 1960-1969
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...strong but open-minded in dealing with young people, though not so wild a dreamer that he will go off into orbit with them," says Mrs. Norman ("Buff") Chandler. "He's a man who wants to be working in the tomorrow of education," adds Financier Norton Simon, "and tomorrow is already here at Berkeley." Faculty members are impressed by Heyns's demonstrated emphasis on teaching at Michigan, consider him as open to new ideas as was Meyerson...
Heading into another television season, American Broadcasting Co.'s schedule is chockablock with new shows -Gidget, Tammy, Honey West, Jesse James, The FBI, and an everyday offscreen cliffhanger that might be called Keep Your Eye on Norton Simon. The California industrialist, who has broadened his Hunt Foods into a far-reaching company (TIME cover, June 4), has been a prime stockholder in ABC for more than two years. Last week it was disclosed that he has bought much more stock through Hunt and a subsidiary, McCall Corp., boosting his stake from 6% to 9% of the outstanding shares...
...Bonanza. Simon's investment is worth about $22 million at current prices, has been rapidly appreciating. Price of the stock has doubled in the past 18 months, and last week President Leonard Goldenson reported that the company's first-half earnings rose 41% above the same period last year, to a record $7.6 million. From a lagging third place among the three television networks, ABC under Goldenson's gifted goading has risen to a point where it is neck-and-neck with NBC and CBS. Stockholder Simon has reason to appreciate the Goldenson touch, but may well...
...Simon is never permanently put off-as was shown anew at the annual meeting of another company, Canada Dry. Though its directors had rebuffed his bid for a board seat just a year ago, he showed up last week not only as a director but also as a prominent spokesman at the meeting. Far from acting like the feisty raider that he is often accused of being, he gracefully accepted a statement by President Roy W. Moore Jr. that Canada Dry's next quarterly earnings would drop because of a $3,000,000 outlay to promote a grapefruit drink...
Positive Feelings. So is ABC-so far. "I have no sense of urgency," said Simon. "We will keep on buying so long as it is a good buy." He insisted that he did not want a director's seat; that Goldenson "leaves me with quite positive feelings about ABC and its future." Television executives, however, remembered the cases of McCall Corp. and Wheeling Steel, in which Simon followed the pattern of investment-takeover-management upheaval. Goldenson seems secure in his job so long as ABC, in an industry that shifts more swiftly than sand, keeps its share of viewers...