Word: swap
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Dates: during 1950-1959
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...like white men, drink water from a tap, not from the spring, and even use a tablecloth at dinner. Author Beti, himself a native of the Cameroons, describes the tribal way of life with such affection and good humor that even the hardened Western reader will long to swap his faucets and tablecloths for the refreshing springs and loincloths of the Cameroonian sticks...
...their future to the bright May star, getting the advantage of May's huge national purchasing and merchandising facilities and its solid footing in some of the fastest growing U.S. population areas, e.g., Los Angeles and Denver. If stockholders approve-and they are expected to-May Co. will swap 9¼ shares of its common stock for each ten shares of Hecht. Hecht Chairman Samuel M. Hecht will become a member of the new May board, and Levi will become a board member and vice president...
Coleman and Siegel also got heavy debts at high interest rates. To climb out, Coleman negotiated a swap with the See-burgs of $1,200,000 in cash for the $2,000,000 owed in notes, borrowed another $700,000 from them. Siegel raised more from Philadelphia's Donner Foundation and the New York Water Corp. In addition, they sold off their Fort Pitt clothing and beer business for $3,000,000 plus a hefty beer royalty from the new brewery owners. With Seeburg's cash position in shape, they were able to pay off their bank debts...
TOBACCO-DRUG MERGER is expected for R. J. Reynolds (sales: $1.05 billion from Camel, Winston, Salem, etc.) and Warner-Lambert (sales: $158 million from Listerine, Bromo Seltzer, Richard Hudnut, ethical drugs, etc.). Reynolds, which would survive in stock swap, would get new line of consumer goods and big foreign distribution system...
...SWAP is being negotiated by Pan American and National airlines. Pan Am plans to lease at least one of its Boeing 707s to National every winter, when National's Miami business picks up. National would lease DC-8s to Pan Am in summer for busy North Atlantic route. Deal would allow National to make three jet round trips daily to Miami during coming Florida season, race ahead of competing Eastern and Northeast with first pure jets on route...