Word: maker
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Dates: during 1960-1960
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Brunswick-Balke-Collender Co., which has diversified from bowling into school and sports equipment, has been looking for a boatbuilder. It lost out on Chris-Craft Corp., the nation's largest motorboat maker, to NAFI Corp., which is controlled by Wall Street's Shields & Co. (TIME, Feb. 15). After helping to close the Chris-Craft deal, famed Yachtsman Cornelius ("Corny") Shields Sr., a Shields & Co. partner, pondered a way to see Brunswick into the boat business. As a director of the Owens Yacht Co., the nation's No. 2 builder of pleasure crafts (1959 sales: $15.3 million...
That experience began accumulating when Walter Heller, the son of a wealthy sausage-casing maker with plants around the world, went into the jewelry business at 22, after a year at the University of Michigan. Says Heller: "My father thought I'd lose less money there than anywhere else." Six years later, Heller got out of the business after thieves took off with $600,000 worth (insured) of his jewels. In 1919 he set up a commercial-loan company, was astounded when a bank offered him a $100,000 line of credit. He chalked it up to the favorable...
...missile-age budget presented by President Eisenhower for fiscal 1961 gave the makers of manned aircraft little to cheer about (TIME, Jan. 25). But to one old-line plane maker it brought a wide, and somewhat surprised, smile. Among the funds requested were $440 million for another 220 of Republic Aviation's F-IO5 supersonic fighter-bombers, the only fighter plane in the Air Force budget. Together with orders already in hand, it brings Republic's F-105 program to 358 planes, and the Air Force plans eventually to buy 900 planes worth a hefty $1.8 billion...
...consumer tastes shifted, he bought his way into cottons and nylon hosiery. From 1952 to 1958 Love bought 18 key companies-often for a mere fraction of their real values. Last week, eying a new market, he was close to closing a deal to buy a major maker of carpets...
...grand jury has heard 75 witnesses from almost every major U.S. heavy-electrical-equipment maker. It will continue investigating for another two months, then report. Said Cordiner: "Some of these associates of ours in G.E. may be found personally liable under criminal indictments which may be returned by the grand jury. Their punishment could be most severe...