Word: tycooning
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Last summer, Chicago's Arnold Johnson, a vending-machine tycoon, thought he could simply put $3,375,000 in the slot and get himself a ball team. Millionaire Johnson happened to own the stadium of the minor league Kansas City Blues, the town's only big ballpark (he is also part owner of New York's Yankee Stadium). The nearest major-league town, St. Louis, was more than 250 miles away, he argued, and Kansas City was full of potential fans. Even the A's Connie Mack, 91, Grand Old Man of Baseball, agreed that...
Ever since ex-Navyman Frederick W. Richmond, tycoon (j.g.), got mixed up with Pittsburgh's Follansbee Steel Corp., he has had more trouble than a bear in a beehive. Richmond offered about $9,300,000 for the company, and planned to sell its equipment to Republic Steel. But when it turned out that Republic would move the mill down South, and thus take the No. 1 employer from the town of Follansbee, W. Va., the entire community swarmed down on Richmond's neck (TIME, Sept. 27). Then a group of stockholders got an injunction postponing the vote...
Producers Theatre, Inc. is a far cry from the usual one-shot partnership of Broadway show backers. It is a longterm, well-knit marriage of business acumen and theatrical talent. Its sparkplug is dynamic Real-Estate Tycoon Roger L. Stevens, who engineered the 1951 purchase of the Empire State Building and its sale last month...
...producer in his own right (Twelfth Night), Stevens teamed up last fall with topnotch Broadway Producer Robert (The Time of the Cuckoo) Whitehead and fellow Tycoon Robert Dowling (City Investing Co.) to form a glittering $1,000,000 triumvirate. Its aims: "To produce plays and operate playhouses" on a businesslike, year-round basis-and to take risks for art's sake as well as to make a profit...
...Square, a score of picked young actors meet thrice weekly to read and recite; from them, Producer Whitehead hopes to build up a topnotch repertory group. In Venice, P.T. is already filming The Time of the Cuckoo (star: Katharine Hepburn). But the triumvirate is just beginning to branch out. Tycoon Dowling hopes eventually to put actors, directors and playwrights on a salary status, "as at General Motors," so that talented people can stay in the theater instead of being forced to go elsewhere to earn a living. Says Businessman Stevens: "Above all, we are trying to put continuity into...