Word: stockely
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Dates: during 1970-1979
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Fogel left Harvard in 1928 without having successfully completed his general examinations and went to work on Wall Street. Except for the years between 1935 and 1945, during which Fogel left the stock market because of the Depression and World War II, he worked in the investment business continuously from 1928 until...
...student. A $57 million endowment and $600,000 in annual alumni giving make up the difference. In 1976 the school also began a $50 million fund-raising campaign. Andover needs the money, says Headmaster Theodore Sizer, to maintain diversity and excellence in an era of high inflation and soft stock markets. A boyish-looking former dean of Harvard's Graduate School of Education, Sizer, 45, remembers that, as an undergraduate at Yale in the early '50s, he "frankly resented" Andover boys. "They came arms linked," says Sizer, "and left arms linked." At Harvard, his focus was mostly...
...dissolved and replaced by a holding company, called Volvo (Svenskt-Norskt) and composed of two divisions. The Swedish branch will have 60% of the shares and appoint six directors to the ten-seat board; the Norwegian wing will own 40% and name four board members. Owners of Volvo stock will be given shares in the Swedish operation; half of the shares of the new Norwegian branch will be sold to the public, with the rest going to the Norwegian government, which is expected to become the single biggest shareholder in the binational corporation, ahead of even the Swedish pension fund...
These days Flick, a shy-looking industrialist with horn-rimmed spectacles, has a problem, and it may cause a lot more smashed crockery in those Munich beer cellars. He pocketed $1 billion when in 1976 he sold to a German bank 29% of the stock of Daimler-Benz, which makes Mercedes cars. Under West Germany's tax code, Flick has to spend all of that sum by Dec. 31 in ways that will "benefit the national economy"-or else pay 50% in capital gains and income taxes...
...sentence. Released in 1950, he was ordered by the Allies to sell his rich holdings in either coal or steel. He chose coal and collected more than $50 million, which he used to build an even more prosperous empire based on petrochemicals, paper, steel-and Daimler-Benz stock. Today the Flick Group is a $4-billion-a-year conglomerate of some 100 companies that make products as diverse as bathtubs and Leopard tanks for the Bundeswehr. After Papa died...