Word: sterne
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Dates: during 1950-1959
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...short pants not to follow his father Harry into the book business (Book-of-the-Month Club). Instead, he went to Columbia and Juilliard School of Music. He foots the whole bill for his Little Orchestra Society. At first, partly because he hired high-rate soloists such as Isaac Stern, Claudio Arrau, Joseph Szigeti, and gave them a chance to play music "they can't play in Oshkosh," he found his society a little expensive. Now, Scherman reports, "it's coming closer and closer to breaking even...
...handles details so well that he has built Allied into the biggest U.S. department store chain, with a $437 million-a-year gross. Last week, without spooning a nickel from Allied's treasury, he made it even bigger: he completed a deal to take over 84-year-old Stern Brothers* department store and give Allied its first outlet in Manhattan...
...Stern Bros, moved uptown to its eight-story store on Manhattan's bustling 42nd Street in 1913, thoughtfully included a carriage entrance in the rear to accommodate the Astors and the Vanderbilts who lived on nearby Fifth Avenue. Both the carriage entrance and most of the carriage trade are gone now, but Puckett thinks Stern's new middle-income customers are right for Allied. To get more customers, Puckett plans to build a string of Stern Bros, suburban stores around New York City. Grossing $33 million last year, Stern's will be the 75th store...
...deal: Stern's will buy up and retire 42.8% of its stock (145,332 shares), paying stockholders $24 a share. Puckett will get 81% of the remainder (157,252 shares), from two big stockholders, Stern's President Thomas W. MacLeod and Manhattan's Manufacturers Trust Co., by trading them one share of Allied for two shares of Stern...
Then Komatzi's stern face softened. "The canaiba is clever," he said in friendly tones. "Little by little he has found out something." Raising his voice abruptly, he cried: "The canaiba still wants to see the place where the body is? You are standing...