Word: builders
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...Builder. Intercontinental made deals to manage three South American hotels (worth $6.2 million) at Belem, Santiago and Barranquilla, and raised the capital to start three more (worth $17.5 million) abuilding at Montevideo, Caracas and Bogota. It began negotiations to build 17 others stretching from Japan to Saudi Arabia. Last week I.H.C. added two more links to its projected $100 million chain...
...sold the first stainless steel streamliner, the Pioneer Zephyr, to the Burlington in 1934. Since World War II the company has sold some $115 million of railroad equipment, gained such a fat share of the market that it is now second only to Pullman as a railroad passenger-car builder. With the help of this booming sideline (Budd gets 83% of its revenue by making auto bodies, wheels, brakes), the company rolled up $137 million in sales for the first six months of 1950, boosted first half profits...
Last week Jacome's announced that it would move into a new $1,000,000 store to be built right across the street from Steinfeld's. The builder of Jacome's new store: none other than arch-competitor Steinfeld's, which owns the property, and will lease the new building to Jacome...
...Money Itch. William Jaird Levitt never planned to be a builder; he just drifted into it. Born in Brooklyn in 1907, he grew up in an argumentative family, and in that atmosphere his self-confidence waxed mightily. His father, Abraham, was a lawyer who used to spend summer nights lecturing to Bill and his younger brother Alfred on everything from art to the Dodgers. Bill, the family extravert, liked the baseball lectures; Alfred, shy and retiring, preferred those...
Strangely enough, the biggest house builder in the U.S. has built no house for himself. In winter he lives with his pretty wife Rhoda and their two sons, Bill Jr., 17, and Jimmy, 5, in a twelve-room Fifth Avenue apartment, which he rents for $4,900 a year. Summers they spend at Great Neck, L.I., in an English Tudor mansion (which Levitt rents for $7,500 a season) which has both a swimming pool and a private bathing beach on Long Island Sound. On summer weekends Bill sometimes plays golf (low 90s) with wife Rhoda...