Word: wilmington
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Died. Pierre Samuel du Pont, 84, longtime (1915-40) head of the world's largest chemicals empire, E. I. du Pont de Nemours & Co. (assets: $668,587,711); in Wilmington, Del. Du Pont developed the first practical smokeless powder (1893), during World War I made a fortune supplying munitions to the Allies. After investing $49 million in General Motors, he borrowed $35 million more (1920) to save the company from bankruptcy, soon put G.M. back on its feet. Assailed as a "merchant of death" during the early '30s, Pierre began to plow wartime profits into peacetime research, developed...
...GEORGE W. GOODLEY Wilmington...
...vociferously unhappy stockholders, and, for all practical purposes, became the nation's only sole owner of a major motion-picture studio. The check to RKO Pictures Corp. concluded Hughes's deal to buy all RKO assets. Two obstacles to the purchase were cleared as courts in Wilmington, Del. and Las Vegas, Nev. dismissed stockholders' suits to prevent the sale on the ground that the price was too low and the company was mismanaged...
While working on the Greenewalt cover story (TIME, April 16, 1951), Liz spent many days in Wilmington, Del. Once, during the course of the research, she and Mr. Greenewalt found themselves in a long, theoretical discussion on how TIME researches and reports a story-particularly such a complicated one as this. The discussion finally wound up in a bet. If there were no errors in the Greenewalt cover story, he was to pay Liz $5; for each error, Liz was to pay him $1. Says she: "I had to send him $1. I got Pierre du Font...
Some 90% of the company's business is north-south freight, and the ships would cut out 60% of McLean's expensive highway mileage. Though overall shipping time would be slower (30 hours for ships from Wilmington to New York v. 18 for trucks), costs would drop sharply; McLean figures that its ships can haul freight 50% cheaper than trucks on the highway, take business away from railroads...