Word: multimillion
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Dates: during 1970-1979
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...remains); of cancer; in West Palm Beach, Fla. Son of a dirt farmer and wandering evangelist, MacArthur bought Bankers Life & Casualty during the Depression for $2,500 and through mail-order techniques built it into America's second largest health and accident underwriter. Although he also had multimillion-dollar interests in other companies and in real estate, MacArthur maintained an eccentric and frugal existence, pocketing desserts he could not finish on airplane flights and picking up discarded soft drink bottles to turn in for their deposits. During the last few years, he lived in a modest two-bedroom apartment...
...formerly First National City Bank -New York City's biggest bank, second largest in the nation and the world (after Bank of America). It is not, obviously, your friendly, flexible Bert Lance lending and saving shop. It is a hard-nosed company that will as swiftly foreclose a multimillion-dollar high-rise as a mom-and-pop delicatessen if the mortgage payments lag. Considering the cost of Manhattan real estate and the sensitivities of its stockholders, Citicorp might well have elected to erect yet an other no-frills cereal box as its new showplace...
Since then, Barnes, who is self-educated and a constitutional-law buff, managed to work his way up from just another Harlem pusher to the reputed Godfather of a multimillion-dollar drug empire. In the process, he is said to have established a close and profitable relationship with the Mob. Reported one black detective to TIME Correspondent John Tompkins: "We recently saw a guy from Mulberry Street [in Manhattan's Little Italy] meeting with Nicky Barnes at a place in The Bronx [on Barnes' turf]. A few years back, Nicky would have had to go downtown...
DIED. Anton (Tony) Hulman Jr., 76, sportsman who transformed the dying Indianapolis Motor Speedway into a multimillion-dollar attraction; of a ruptured artery; in Indianapolis. In 1945 Hulman bought the speedway-which had been closed during the war years-from Eddie Rickenbacker for $750,000. He revived the "500" and refashioned a folk festival where thousands gathered every year and heard him say, "Gentlemen, start your engines...
...Multimillion gains-and losses-in arbitrage