Word: strickman
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Dates: during 1960-1969
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...Barzun's Columbia, because it not only is one of New York's largest real estate owners but also maintains a private Wall Street office to oversee investment of its endowment money. He takes a painstakingly detailed look at Columbia's involvement with the unsuccessful Strickman cigarette filter. As things have turned out, the filter has yet to make any money for Columbia. But the university's initial endorsement pushed cigarette stock prices so high that the University of Texas was able to sell 59,000 shares of R. J. Reynolds and 24,000 shares...
...despite her inherent strengths, the spring crisis struck Columbia when her self-confidence was shaken by the decline in relative position in AAUP rankings of graduate departments, the exclusion from a Ford Foundation grant for improvement of graduate studies, the resignations of a number of senior professors, and the Strickman filter incident...
...that finish the filter? Far from it. Strickman supporters insisted that Magnuson had misinterpreted a Columbia-sponsored test that, in fact, showed the invention to be more effective in eliminating tar and nicotine than the cellulose acetate filters used on the most widely smoked filter cigarettes. Not only are some U.S. cigarette makers continuing to express interest in the filter, but last week both Imperial Tobacco Co. of Canada Ltd. (du Maurier and Player's), and Rothmans of Pall Mall Canada Ltd., negotiated licenses to use the filter. The companies are two of the biggest in Canada, and they...
Chief Beneficiary. Before that happens, however, further research on the filter will be performed. Though Strickman's device may be more effective than the cellulose acetate variety, there are other filters already on the market -including those on such cigarettes as Marvels and Cascades-that probably rival it in reducing tar and nicotine. But most such brands have enjoyed only moderate success among smokers, many of whom feel that the filters diminish taste and make it harder to "draw." While the Strickman filter may likewise be hard on the draw, a consumer study for Strickman by Market Analyst Virginia...
...Canadian manufacturers go ahead with the filter, they will pay a penny a pack in royalties to a new charitable foundation established by Strickman and headed by Robert A. Katz, secretary and counsel of Joseph E. Seagram & Sons Inc. Besides advance payments of $200,000 apiece, royalties from the two companies could eventually amount to $5,000,000 a year. And because Strickman refuses to grant exclusive licenses, the foundation could still hope to reap far bigger returns from any-or all-of the leading U.S. cigarette companies. Even Columbia would not be left out in the cold. Though...