Word: warners
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Dates: during 1950-1959
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...last February, in his satiny suite high in Manhattan's Hotel Pierre, Boston Banker Serge Semenenko shook hands with Hollywood's Jack and Albert Warner on a deal. Full of enthusiasm, Jack and "Abe" phoned their older brother Harry in Hollywood: Semenenko had agreed to buy a majority of their stock interest in the family studio and take control. What did Harry say to that? Harry said no, and the Semenenko deal seemed as dead as dozens of others that have swirled briefly in Variety headlines in the five years since the Warners first announced that they would...
...Personal Venture." The new boss of Warners is probably Hollywood's No. 1 angel. Russian-born and Harvard-educated, Serge Semenenko, senior vice president of the First National Bank of Boston, has funneled more than $2 billion of Boston's money into Hollywood in the past 20 years. A suave, cautious-speaking man of 52, he has helped virtually every major studio with First National loans. But the Warner Brothers deal was not a bank matter, Semenenko said; it was "a personal venture...
...acting with and for a group-"just a few old friends"-whose identity he kept secret. But at least three were tentatively identified as New York Investment Brokers David Baird and Charles Allen and Theater Tycoon Simon H. (Si) Fabian, president of Stanley Warner Corp., to which Warners sold its theater chain in 1953, in accordance with an antitrust decree separating moviemakers from exhibitors. While Semenenko denied that old friend Fabian, "a wonderful executive." had invested in his new deal, he admitted that he would "like to see the legalities ironed out, so that Fabian could get into the picture...
...Legal Embarrassment. Insiders insisted, however, that Fabian was already in. Said one of Semenenko's closest associates: "Fabian is behind the whole group." The reason for the hush-hush on Fabian was the federal court order permanently divorcing production and exhibition of Warners movies. The probability was that Fabian was in the deal only on a contingent basis, i.e., stock had been set aside for him, provided that he could figure out how to satisfy the Justice Department and become an open partner. This might be done by dividing Stanley Warner Corp. into two parts, with Si Fabian taking...
...Robert S. Ingersoll, 42, was elected president and chief operating officer of Borg-Warner in a top echelon reshuffle at the auto-and aircraft-parts company. He succeeded his father, Roy C. Ingersoll, 71, who relinquished the presidency after six years, but remains as board chairman and chief executive officer. Young Ingersoll joined the company in 1939, during the war spark-plugged BW's amphibian-tank project, became an administrative vice president...