Word: offing
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Dates: during 1960-1960
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LAWSUIT THREAT against TWA finally forced Howard Hughes to turn over control, of his 78% of TWA stock to a banking and insurance-company trust. In return, he got loans totaling $165 million to pay for 20 Convair 880 jets. TWA will raise an additional $100 million through a public...
VOLKSWAGEN SHARES will go on sale next month to West German families in the lower-and middle-income groups. The shares will be limited to five per family, cost 350 marks ($83.30) each. As a result, 60% of Volkswagen will be owned by small investors; the other 40% will be...
PROFIT-SHARING & pension plans for employees are being set up by U.S. companies at a record rate. For the first nine months of 1960, the Treasury, which checks the tax arrangements of each plan, approved 7,729 new plans, a 40% increase over the same period last year.
FIRST-ROUND VICTORY in the proxy war for control of the Alleghany Corp., the holding company that controls the New York Central and Investors Diversified Services, went to Murchison interests. Court ordered Alleghany Chairman Allan Kirby (TIME, Dec. 12) to turn over list of stockholders to Brothers Clint Jr. and...
The nation's most pressing domestic economic problem-both immediate and long-range-is the rising rate of unemployment. Last week the immediate problem was starkly emphasized when the Labor Department added nine more major industrial areas to those with "substantial" unemployment, bringing the total to 51 of the...