Word: tomlinsons
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...angriest running battle for control of a major U.S. movie company reached a climax last week. At a special stockholders' meeting, the management of Hollywood's infirm old lion, Loew's Inc., owners of Metro-Goldwyn-Mayer studios, outvoted the forces of Millionaire Canadian Contractor Joseph Tomlinson, Loew's biggest (5%) and unhappiest stockholder. By 3,449,446 ballots to 519,435, shareholders gave President Joseph R. Vogel a solid grip on his board of directors by increasing its membership from 13 to 19. Then they voted in nine management nominees to fill ten empty seats...
Watch Out for Falling Rock. In Perth, Australia, detailing his disasters in bankruptcy court. Farmer Wilfred J. Tomlinson, 60, moaned that 700 of his sheep were stolen, as was his $2,225 trotting horse-which had never won a race-that emus had wrecked his crops, his accountant had suffered a heart attack, and white ants had eaten his only record book...
...back on the track. He planned to release 36 "worthy" pictures in 1957-58 v. only 18 in 1956, and made a succession of deals with Hollywood's independent producers to put M-G-M on a competitive par with its more alert rivals. But for Tomlinson and Meyer it was evidently a case of too little too late; Loew's estimates that its profits for the third quarter of fiscal 1957 will total exactly 1?. At a board meeting a fortnight ago, charged Vogel, the recommendations of an independent management survey were used to suggest that...
...umpire's job. With him went two other directors. General Dynamics' President Frank Pace Jr. and Manhattan Attorney George A. Brownell,* both of whom have voted with President Vogel. Appealing to his stockholders for help, embattled President Vogel warned that the dissidents planned to put Contractor Tomlinson in as Loew's chairman, with TV Man Meyer as president. He also charged, as a final shot, that the man behind it all was none other than longtime M-G-M Mogul Louis B. Mayer, the aging (72) lion trainer who retired six years ago, but whose cream-colored...
...Manhattan at week's end neither Tomlinson nor Meyer would comment on President Vogel's charges. As for Louis B. Mayer, he denied everything. "Vogel?" he glowered. "I don't know what he's talking about." About the only interested parties who have said nothing publicly throughout the fight were Investment Bankers Lehman Bros, and Lazard Frères & Co.. who control about 20% of Loew's 5,336,777 shares outstanding. Their votes will probably decide any proxy fight...