Word: ahmanson
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Dates: during 1950-1959
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Last summer's power struggle at the state convention centered around two candidates for assistant state chairman-one a Knight loyalist, the other a Nixon insurgent. Goodie Knight easily managed (with an able assist from Senator William Knowland) to get his man, Multimillionaire Howard Ahmanson, elected...
...HOWARD AHMANSON...
...prime example of the new breed is Los Angeles' Howard F. Ahmanson, 48, who made his fortune in the savings-and-loan business, real estate, oil and fire insurance. Says Millionaire Ahmanson: "When I was a kid of 16, all the greybeards used to say: 'It's too bad, son. There's no opportunity any more for youngsters of your generation.' Well, they were wrong. And today, I've got fifty million bucks to prove...
...ANGELES' AHMANNSON, who started out with $588 from selling insurance and was well on his way to his $50 million fortune by the time he was 30. Ahmanson's big secret is keeping plenty of hard cash on hand to invest in profitable deals. In 1947 Ahmanson plunked down more than $100,000 for the city's Home Savings & Loan Association. Today it boasts assets of $220 million and is the world's biggest loan company. After World War II, Ahmanson bought up the 290-acre Baldwin Hills district in Los Angeles, the last big undeveloped...
Then Knowland, who has always considered Dick Nixon an upstart, arrived at the convention and quietly passed the word that he was for Ahmanson. He blocked a move for a secret ballot in the election, and the Nixon bloc caved in. Ahmanson was chosen by acclamation, and thereby Goody Knight took a long step toward control of the California delegation to the 1956 Republican National Convention...