Word: tecon
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Dates: during 1960-1969
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...Bobby? As Karl later testified, "I was impressed with his title." It would be good for Magic, he added, to have "well-known stockholders," and Baker "knew a lot of people." Baker certainly did, and he touted many of them, including Robert F. Thompson, executive vice president of Tecon Corp., a Dallas construction firm headed by Clint Murchison Jr. When Thompson borrowed $110,000 from Dallas' First National to buy Magic stock and offered to cut Baker in fifty-fifty on profits or losses under a "gentleman's agreement," Baker cleared a cool $21,000 profit without investing...
...Texas Way. Baker kept right on buying Magic stock-with borrowed money. One who helped him was Robert F. Thompson, executive vice president of Tecon Corp., a Dallas construction firm headed by Wheeler Dealer Clint Murchison Jr. Tecon performs nearly $90 million worth of work a year for the Army Corps of Engineers. Thompson testified that he first met Baker in 1957. Where? "I thought," replied Thompson, "that it was in the office of Lyndon Johnson...
...rest of the price with an $80,000 promissory note. Then he borrowed to buy up other companies, moved into highway construction, dam building, land development and heavy construction by using his growing combines as collateral against each new acquisition. Gradually his original $20,000 investment pyramided into Tecon Corp., a general construction company that now has assets of $10 million. With it Clint Jr. even took on the ambitious job of removing a hill that threatened to fall into the Panama Canal, despite skepticism by other big companies whether it could be done at a profit. He made...