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Businessmen looking for clues to 1958 prospects closely watched pre-Christmas retail and auto sales. Both were encouraging. On the day after Thanksgiving, sales at Manhattan's Gimbel Bros, jumped nearly 8% above the post-Thanksgiving day last year. Chicago's State Street was so jammed with shoppers that the downtown police detail was doubled to 100 to control the crowd. In downtown Atlanta, retailers said sales were well ahead of last year. Los Angeles stores reported "very good" business...
ALLEN J. LOEB Loeb Bros. TV Service Brooklyn...
...little man's awe of the tycoons soon rubbed off. Prime targets such as Nelson Rockefeller, RCA's David Sarnoff and Marcel Palmaro, head of Lehman Bros.' foreign department, were soon being buttonholed by Burmese industrialists, Taiwan manufacturers, Brazilian bankers. Projects from underdeveloped countries eager for foreign capital were produced by the hatful. India is ready to open its great bamboo forest in the Mysore province for paper and pulp production if it can get $8,500,000 in foreign exchange in return for half ownership. India's Orissa province needs $1,500,000 in foreign...
...notable byproduct of Vogel's victory was his apparent defeat of two mighty Wall Street investment houses−Lehman Bros, and Lazard Freres−who are dissatisfied with Loew's management (TIME, Nov. 12). Lehman and Lazard figured to control about 3,000,000 of the 5,336,777 shares outstanding. Yet last week they voted only 150,000 shares for the rebel cause. A Lehman-Lazard spokesman contended that the two firms can still control approximately 3,000,000 shares. But they do not appear to want to lead a proxy fight themselves, nor do they support...
Running the company alone, Lincoln helped build Federated Department Stores into what ranks (on first-quarter earnings) as the nation's biggest retailer, adding such stores as Columbus' F. & R. Lazarus Co. (1929), Brooklyn's Abraham & Straus (1929), Manhattan's Bloomingdale Bros. (1930), Houston's Foley Bros. (1949), Dallas' Sanger Bros. (1951). Yet he was never so busy selling that he forgot the workers and society around him. Filene was a leading spirit of the New England Industrial Development Corp. to encourage small businessmen, pumped hard for better schools, wrote three books...