Word: forrestall
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James V. Forrestal, 50, went to Washington after making a pile of money in Wall Street, where he was president of the investment banking firm of Dillon, Read & Co. He still wears his banker's semi-stiff collars, smokes a pipe, has an amiably smashed nose from boxing. A...
To get a fresh view of itself, Princeton has appointed a staff of critics consisting of 300 men of affairs, some of them graduates of Princeton. Their job: "to criticize, encourage and stimulate" the university's classroom and scholarly work. Some of the critics: the New York Herald Tribune...
> Rejected proposals to pay back to industry after the war 14% of the excess profits collected from it now. The committee also let stand the 94% excess-profits levy denounced as "a danger to the full success of the war production program" (because it gives industry no incentive for greater...
> Sperry Corp. announced that renegotiations of its war contracts with an Army and Navy Adjustment Board (TIME, April 20) would save the Government, in refunds and lower prices, about $100,000,000. This is the biggest war-contract adjustment so far. Said Sperry President Tom Morgan: "Our profit before taxes...
Army & Navy: De facto head of the Army & Navy Munitions Board (his de jure commission still to be signed) is Wall Street's Ferdinand Eberstadt, first civilian since War I to head the services' top procurement-coordinating body. Longtime friend and former partner of Navy Under Secretary Jim...