Word: stilles
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Dates: during 1940-1949
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...cream, then securities. Later, he started Detroit's H. A. McDonald Creamery Co., built it into one of Michigan's biggest dairies. He branched out into investment banking, became a partner in Detroit's McDonald-Moore & Co. (a connection he severed when he joined SEC). Still a salesman, McDonald's first step as SEC boss last week was to call in his division chiefs and tell them to "make this agency one of the best in town to do business with...
...Rexall's earnings slipped from $4,048,403 in 1946 to $1,415,869 last year. For the first nine months of this year, Rexall reported a loss of $1,167,125. For the full year, Dart estimated last week, the loss would be cut, though it would still be around $500,000. Said Dart: "We knew that trouble was coming-but we didn't realize it would hit us so fast...
Despite the adversity of the game, Dart was still in it and he didn't seem to be in danger of being sent to the bench; of Rexall's 13 directors, nine are Rexall employees whom he appointed to the board. President Dart still hopes to boost business with his superstore plan. He has cut the number of Rexall-operated stores from 540 in 1946 to 340, hopes to level off with about 300 in 1950. Said he cheerily: "To those not in the company we look worse and worse. But inside, in the overhead department...
...sell & leaseback" deal was doubly advantageous. Yale would get a fairly sure tax-exempt income of 5.3% on its investment. Macy's would get its $4,500,000 out of dead brick & mortar into lively working capital, still have the use of the building. Since the rent is taxexempt, it is probably lower than Macy's would have to pay to a taxpaying owner...
...Mueller Co. (macaroni, spaghetti & noodles), Ramsey Corp. (piston rings), the $3,300,000 American Limoges China Inc. and the $35 million Howes Leather Co. On their earnings the companies would be paying all told an estimated $1,500,000 a year in federal taxes, if they were still privately held...