Word: wolfsons
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James C. Marlas '59, Mark J. Mirsky '61, Keith D. Lowe '60, Robert P. Fichter '61, E. Eugene Pell '59, John S. Wolfson '60, John E. Lawyer, Jr. '60, and Ralph B. Perry...
Three years ago the tycoon-hating Washington Post and Times Herald, enraged by the way Washington's transit company board chairman. Financier Louis E. Wolfson, was running the buses and streetcars, said so in three editorials. Sample: "His tactics, indeed the whole Wolfson operation of a once-sound company, have been a hark-back to the robber baron days of the last century." Financier Wolfson promptly sued for $30 million. The Post was unabashed: "We shall continue to exercise our full right to criticize...
Last week, in a humbler mood, the Post ran another editorial about Tycoon Wolfson. Asserting that it was doing so to avoid expensive and protracted litigation, the paper announced it was contributing $25,000 to a Wolfson charity, the Baptist Memorial Hospital in Jacksonville. "On his part," said the Post, "Mr. Wolfson is withdrawing the suit without any payment...
...LOUIS WOLFSON got out from under SEC charges of manipulating American Motors Co. stock by signing consent decree pledging not to perpetrate "fraud or deceit" on future buyers of A.M.C. shares. SEC action was light wrist slap for Wolfson, who made about $1.7 million in A.M.C. stock dealings, now avoids a public airing of his deals. But in future attempts to move in on corporations, Raider Wolfson probably will have to show on his proxy that he was once restrained by SEC for fraud...
...many of Louis Wolfson's battles and deals, his associate was David B. Charnay, longtime New York Daily News reporter, now chairman and part owner of a Manhattan public relations firm. Last November Wolfson sold a trailer company controlled by one of his interests to Detroit's Trans Continental Industries, of which Charnay is chairman, and it became Trans Continental's chief asset. Last week the Securities and Exchange Commission ordered a ten-day suspension of trading in Trans Continental stock on the American and Detroit stock exchanges. Reason: "To prevent fraudulent and manipulative practices...