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...profitless Handridge Oil Corp., which was controlled by Chairman Guterma and Las Vegas Gamblers Samuel Garfield and Irving Pasternak. Terms: 575,000 new shares of United Dye, worth $18 million, for 575,000 shares of Handridge, whose assets had been bought from Texas Wheeler-Dealers John and Clint Murchison Jr. for a mere $519,000. Remarkably, this deal was approved with a minimum of investigation by the New York Stock Exchange...

Author: /time Magazine | Title: Business Ethics: The $5,000,000 Swindle | 3/15/1963 | See Source »

...holdings, Post created a company whose title is fitted to his horizons: Greatamerica Corp. Its assets of $900 million make it the U.S.'s biggest life insurance holding company. Currently, it embraces American Life, Franklin Life, Gulf Life (whose control Post bought from Fellow Texans Clint and John Murchison for $17.5 million) and a company with the lapel-clutching name of Amicable Life...

Author: /time Magazine | Title: High Finance: The Quiet Texan | 11/30/1962 | See Source »

...Onto the board of New York's embattled Alleghany Corp. went Bertin Clyde Gamble, 64, the ex-Minnesota farm boy who heads the $140 million-a-year Gamble-Skogmo merchandising chain. Gamble, who recently bought 1,500,000 shares of Alleghany stock from Texas wheeler-dealers John Murchison and his brother Clint Jr., could yet emerge as the big winner in the feud between the Murchisons and New Jersey Financier Allan P. Kirby, who still owns 33% of Alleghany's common. Like Kirby and the Murchisons, Gamble is interested in Alleghany because it owns 47% of Minneapolis...

Author: /time Magazine | Title: U.S. Business: Personal File: Oct. 19, 1962 | 10/19/1962 | See Source »

...With the Murchison brothers of Texas and others, he is building a 2,000-acre island-city off St. Petersburg, a dazzling tropical paradise connected by causeway with the mainland. He is also investing in a $4,500,000 "yachtel" called Porto-O-Call. Its restaurant will seat 1,300 people -but most of them will be up dancing to the music of Guy Lombardo...

Author: /time Magazine | Title: Bands: The Royal Floridians | 9/21/1962 | See Source »

Estes was frank about telling people what his ambition was: he wanted to get as rich as the Murchisons, the most famous of Texas' big-rich clans. He had some theories about how to get Murchison-rich. One of his basic concepts was that he could profit by handing out presents-a car, a suit of clothes, a thousand dollars in cash-since the recipient would be under an obligation to do him future favors. Another notion was that when a debt gets big enough, the creditor acquires an interest in the survival and prosperity of the debtor...

Author: /time Magazine | Title: Investigations: Decline & Fall | 5/25/1962 | See Source »

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