Word: courtauld
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Dates: during 1960-1969
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...restorer at London's Thomas Agnew & Sons began to remove the scummy varnish. Was it Raphael's famous Madonna di Loreto of around 1510, known through more than 30 existing copies and through art-history references? X-ray and infra-red photography at London's Courtauld Institute probed its veil of oils, and now the best experts that Agnew can find say cautiously that the work seems to be an authentic Raphael. "The lightning strikes," said Getty. But, he adds, "I wouldn't dream of selling it." It could only fetch him a million...
...against a motion argued by Stanley Baldwin, he was warned by the visiting Prime Minister that "intellectualism is a sin and could lead a young man to a fate worse than death." Notwithstanding Baldwin, Rab became a Cambridge don. He deserted the common room for Commons after marrying Sydney Courtauld, a textile heiress, whose long illness and death in 1954 visibly sapped his political energies...
...roughest takeover battle in British history, the ancient and slightly moribund textile-making firm of Courtaulds, Ltd. barely held off giant Imperial Chemical Industries Ltd. last year by promising to mend its ways. The world's second biggest synthetic fiber manufacturer (after Du Pont), Courtaulds pledged an end to the secretive, damn-the-investor attitude prevailing since the firm was founded 147 years ago by Huguenot refugees named Courtauld. It also predicted that fiscal 1963 would bring a 30% rise in pre-tax earnings to $65 million...
Money-losing items have been cut without sentiment. At Samuel Courtauld & Co., a division dating back to the days when Courtaulds was mostly famous for silk mourning crepe, uneconomical lines of fabrics for clothing and industry were eliminated. Explains Kearton: "The important thing is to stop promptly when you see you are on the wrong track...
Chambers, a financial wizard trained at the University of London's School of Economics and polished at the Inland Revenue Board, obstinately foug1' his way back to grace. The Courtauld venture had rewarding side effects: the worth of the Courtauld stock held by I.C.I. soared after the quarrel, from $173 million to $268 million. More important. Chambers made some hard decisions inside I.C.I. He cut its 99,000 employees by 5%, trimmed costs to the point of printing its annual report in newspapers rather than sending copies to almost 475,000 shareholders. The company also stepped...