Word: tisch
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Dates: during 1960-1969
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...truth, have grown increasingly elastic. Tax laws give companies great latitude in deciding how to treat both assets and costs that affect profits. Frequently, companies quite legally report results one way to the public and another to the tax collector. The conglomerates in particular are worried. Says Chairman Laurence Tisch Jr. of Loew's Theaters: "Accounting tricks are taking over. There's no rule on how to keep the books. You can make up your own mind...
...announcement of the prospective merger between Loew's and Lorillard took Wall Street by surprise. Negotiations had been secretly carried on in suburban Scarsdale, N.Y., where both Loew's Chairman Laurence A. Tisch and Lorillard Chairman Manuel Yellen live. Meeting at the Tisch home in Scarsdale, Tisch and Yellen were able to work out within one week a deal by which Lorillard's product line (Kent, True, Newport, Old Gold and Spring cigarettes, Tabby cat food and Reed candies) will join the 14 hotels and 110 theaters controlled by Tisch and a younger brother. The merged company...
...Laurence Tisch, 45, has already had a fairly spectacular past. He graduated cum laude from New York University at 18, a year later earned his business-administration degree from Pennsylvania's Wharton School. Father Al Tisch, who had prospered operating summer camps, staked his son to $125,000, and Laurence-consulting ads in the New York Times-used it to purchase a resort hotel in New Jersey. He and his brother expanded before long to New York, where they bought or built such hotels as the Drake, the Warwick and the Americana. In 1960, at the ripe...
...that Loew's, apart from whatever additional stock it may pick up through its tender offer, is already Commercial Credit's biggest stockholder, having bought almost 10% of the company's shares on the open market during the past year. And Loew's President Laurence Tisch, assailing the proposed get-together with Control Data as a "shotgun wedding," was plainly in no mood to surrender...
...once heroic 100,000-mile-a-year traveler has been superseded by the 250,000-mile man; both Kaiser Industries President Edgar Kaiser and Loew's Hotel President Preston R. Tisch flew that far last year. Jets also make it possible for prosperous executives to live in one climate and relax in another. Pan Am has a regular clientele of Manhattan businessmen who have bought winter homes in Nassau, jet from snow to sun weekends on an easy 2-hr. 50-min. flight...