Word: val
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...that when the 1929 crash came a few months later he emerged with a kitty of $35,000 while more seasoned men went under. Simon was solvent in a promising buyer's market, and for $7,000 he bought a small, bankrupt Fullerton orange-juice plant. He renamed it Val Vita Products Inc., switched from bottles to cheaper cans, cut costs, undersold competitors and eventually switched the plant from orange juice to tomatoes. At that time, he was 25. In the next ten years, he raised Val Vita's sales from $43,000 to $9,000,000 a year...
...Simon sold Val Vita, which made him a young millionaire, for $3,000,000 to neighboring Hunt Bros. Packing Co. Simon had been buying up Hunt stock for two years, and he now demanded a place on the board of directors; though he had about 25% of the stock, management refused and a series of battles followed. Simon succeeded in getting control of the company, changed its name to Hunt Foods. He bought a can-making plant, made himself unpopular with wholesale grocers by discontinuing, just when wartime shortages made it difficult to find new canners, Hunt's unprofitable practice...
...rolled through Brussels a faculty member barraged the students with questions. "Who recently introduced the lower bank rate in France?" A student's correct answer: "Valéry Giscard d'Estaing." "Why?" "To spur investment." At the International School of Brussels, U.S. executives of Ford, I.T.T., Monsanto and Upjohn got a grilling from the students: "Why are Germany's gold reserves going down when its economy is booming?" "What marketing research have you done in Europe on oral contraceptives?" In Paris, the Americans met Gaullist students to discuss the mysteries of the world's teen-agers...
French Finance Minister Valéry Giscard d'Estaing has also called for the Group of Ten to create its own money, but he wants to use it only as a minor supplement to gold. France's main aim is to upgrade the importance of gold, of which it has plenty, and downgrade the dollar and the pound. The Common Market is talking about printing a six-nation money, and its economic chief, Robert Marjolin, figures that such a move could later open the way for a Group of Ten money. The U.S. opposes the idea...
...French Cabinet is debating whether it should impose firmer controls on the French economy. Influential former Premier Michel Debré is pressing for more controls; Pompidou and Finance Minister Valéry Giscard d'Estaing argue for more free enterprise. Though the Gaullists see no compelling political reasons at the moment for relaxing the present unpopular controls, most Frenchmen are confident that relief will come later this year. Reason: the next French presidential election must be held by December, and De Gaulle will want his voters to be contented and prospering...