Word: payout
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Dates: during 1950-1959
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Superior's 422,264 shares, he and his family will get $413 million in stock. The swap is nontaxable, since no cash changes hands. The only tax is on the income from their 5,168,500 shares of Texaco. Annual income, at Texaco's current $2.35 payout: $12.4 million...
...famed bookies, with their derby hats, their rhyming slang-and their ads in Sporting Life. Writes Clements of the board: "Uninspired, uninspiring. To see the stolid, sad-faced queues lined up to bet on numbers at prison windows, the somber ritual repeated if, perchance, they are concerned with the payout-it is a dreary business...
...machines. Says Republic Steel Vice President Norman W. Foy: "Our policy is hard on stockholders, but there is no alternative." Though dividends were up slightly to $12 billion v. $11.2 billion in 1955, they were still only 60% of profits compared to the 75% that corporations consider the normal payout to stockholders. As one result, Wall Street's bull market did not reflect the boom. It climbed to a high of 521.05 on the Dow-Jones industrial average in April, then slipped back 50 points, and at year's end was just about where it started...
...Barrie's sequel, Peter and Wendy). Director-Choreographer Jerome Robbins shaved away sentimentality in favor of movement and daughter; Cyril Ritchard turned Captain Hook ( "the swiniest swine of them all") into a Pirate of Penzance with a fine mixture of cringe and gusto. Of the two sponsors (total payout: $450,000), Ford made palatable its light-touch commercials; RCA tried to fob off Vaughn Monroe in a fantasy of its own and suffered by contrast. After a look at the size of the audience (an estimated 65 million) NBC announced that it will stage a second production of Peter...