Word: stocked
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Dates: during 1960-1969
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...billion to reflect a change in specifications. The actual cost has been nearly $1 billion more than the highest estimate. Yet Colonel Beckman said two of his civilian superiors in the Pentagon approved a juggling of the cost reports to protect the price of Lockheed's common stock. (One of the civilians resigned last year; the other is scheduled to leave Government service when his replacement is confirmed in the Senate...
...Fortas is a target again. This week's LIFE says that while on the Supreme Court Fortas became involved with Louis Wolfson, a corporate adventurer who is serving a one-year sentence for selling unregistered stock. Three months after taking his oath, says LIFE, Fortas received $20,000 from the Wolfson Family Foundation, ostensibly for advising the foundation on philanthropic affairs. Fortas returned the money after Wolfson was indicted on criminal charges; the reason given by Fortas' former law partner was that the Justice had been too busy with court affairs to do anything for the foundation...
Merritt-Chapman ran into a series of financial reverses and was already on the way to liquidation when a federal grand jury indicted Wolfson in 1966 for his sale of stock in Continental Enterprises Inc., a Jacksonville theater-management company. As controlling stockholder, Wolfson should have registered his shares first with the Securities and Exchange Commission, a requirement of which he pleaded ignorance. In addition to the one-year sentence, Wolfson drew a $100,000 fine. He is also appealing a second 18-month term (and a $32,000 fine), which resulted from his conviction last year for perjury...
Eckerd learned the drug business from the stock room up, working in his father's pharmacy in Erie, Pa. "If you work for me, you start in the basement," ruled his father. Eckerd quit after six years, but later persuaded his father to sell him one of his several stores in Wilmington, Del.* In 1952, he ventured into Florida by buying three drugstores from an absentee owner. Five years later he sold his Delaware outlets, moved to Clearwater and began expanding. Doubling in size every two years for a decade, Eckerd Drugs has acquired a candy manufacturing concern...
...lighten the burden for retired persons on fixed incomes, Eckerd set up a nonprofit Senior Citizen Club; its members qualify for discounts at his drugstores. For his cherished employees, he is working out the details of a more unusual plan. Under it, Eckerd would place 90% of his stock in his company in trust. Over a period of years, options would be granted to all employees to purchase stock at today's market price...