Word: optionals
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...Frazer and associates, said the statement, had bought 265,000 shares of Graham-Paige Motors Corp. from Founder Joseph B. Graham at $2 per share. The same purchasers have an option to buy on or before Sept. 7 an additional 265,000 shares at the same price, also from Founder Graham...
...spry old Henry's hide. Willys, which has been hunting a president since Joseph Washington Fraser quit eight months ago, kept mum on details of the deal. But it was reported that in addition to Sorensen's salary (Ford paid him $220,000 yearly) he got an option on a sizable chunk of Willys stock.* Thus he would pay only a 25% capital-gains tax on any stock profit, provided he held the stock six months, compared to about 80% income tax on such a high-bracket salary-the device made fashionable by Harry Sinclair and Spyros Skouras...
...week's end, with Twentieth Century stock up to 24½, Skouras could already count on a small paper profit, barring unforeseen legal complications, if he took up his option. As far as Twentieth Century was concerned, this was all to the good. Said one official: "The company wants to keep him for the next ten, 15 or 20 years. They want...
Furthermore, many a thoughtful businessman has long believed that top managers should have a greater tangible stake in their companies, i.e., a sizeable stock interest. The new stock option plans are regarded by many as a step in that direction. As a clincher, Wall Streeters point out also that before any recipient of a stock option can benefit, all the other stockholders must benefit also. Said one, summing up the whole question: "If you believe in the incentive system what other incentive can you give them but money...
...This week, to assure war-plant supplies, WFA took a 60-day Government option on all corn in Midwestern counties...