Word: swap
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...will form a new company, American Broadcasting-Paramount Theatres, Inc., to boss the combine, with himself as president. Noble will be chairman of the finance committee; ABC's President Robert E. Kintner, onetime newspaper columnist (Alsop & Kintner), will head the company's ABC division. Paramount will swap its common and preferred stock for ABC's common at a ratio placing a value of $14.70 on each ABC share (last week's market price: $13). ABC will then have 16% of the new company's common stock; Noble will hold 9%. CBS, which had also been...
...means of getting correspondents and editors together more often. As boss of correspondents, Laybourne gets these two groups together whenever possible-for working visits and at our general news conferences in New York. He likes the regional session because it brings together a smaller number of men to swap talk about news stories in a particular area...
Astounding quantities of insipid British blends pour out, of the Wellesley teapots every day. The faculty has teas for students. The students have teas for the faculty. The faculty and administration swap teas. Every dormitory has a weekly tea. Societies bring in new pledges through a system of "open" and "closed" teas. Teas vary in tone from the high-heeled formality of administrative, faculty, and alumnae gatherings to the lower echelon custom of assuming varying degrees of proximity to the floor...
...virtually the same management, with almost identical investment policies; it was wasteful, said Randolph, to keep two sets of books, hold separate meetings, etc. Randolph had long wanted to merge the two; at last the time seemed ripe. To stockholders went a complicated plan for a stock swap. Part of Randolph's bait was an $8.70 dividend on one class of Selected Industries stock (the convertible) should the merger be approved...
...their Government securities into cash, then loosing the cash into the nation's credit structure where its buying power increases six-fold (TIME, Feb. 19). In a nutshell, what the Treasury will do is this: a new issue of bonds paying 2¾% will be offered as a swap for existing 2½% bonds maturing...