Word: mason
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Nearly every businessman believes that new corporate conglomerates went out with the miniskirt. Not Raymond Mason. Says the 53-year-old chairman of the Charter Co., who has hitched together an unlikely troika of oil, insurance and communications enterprises into the 74th firm on the FORTUNE 500 list: "You get safer by getting bigger...
Such acquisitions fit well with the business philosophy of the freewheeling Mason. Says he: "We believe that the Lord has the world constructed so that if you do 51% of things right, you'll be a great success." Mason can afford to say that. Last year his profits increased an incredible 1468%, to $365 million on revenues of $4.3 billion...
...Mason runs his business from an elegant boathouse office on the St. Johns River in Jacksonville, Fla., where the self-described "frustrated hermit" can survey both his flourishing accounts and his lush 75-acre estate. Starting out with a motley collection of Florida mortgage, banking and land-developing firms, Mason in 1968 bought 60 small gas stations that eventually led to his acquiring $70 million worth of key Signal Oil & Gas properties two years later. From 1969 to 1974 Charter assets jumped 1184%, as the voracious Mason gobbled up other properties, including Ladies' Home Journal and Redbook magazines...
Meanwhile, K-School fund raisers, led by new associative dean for resources, Bayley F. Mason '51, have not failed to maintain the traditionally successful search for endowment funds. The creation of the Baker and Weatherhead chairs, at $3 million apiece, two of the six professorships the K-School will devote specifically to public management, highlighted an eventful year of financial Easter egg hunting...
...Libya. Arabs being all too visible in England, the royal heist is conducted by I.R.A. Provos, members of Germany's Red Army Faction and a karate expert from the Japanese Red Army. With some inside help, the terrorists penetrate Buckingham Palace in a captured Fortnum & Mason delivery van. God save the Queen...