Friday, Dec. 15, 1961
PERSONAL FILE
sbAt its New York convention last week (see THE NATION), the National Association of Manufacturers chose as its new president an embodiment of the great American success story--reserved, stern-featured Donald J. Hardenbrook, 65. A non-college man, Hardenbrook started out as a $6-a-week office boy with Atlas Portland Cement, inexorably worked his way up to board chairman of American Creosoting Corp. Though he is descended from Manhattan's original Dutch settlers and claims a great-great-great-great-grandfather who helped found the New York Stock Exchange in 1792, strapping Donald Hardenbrook owes his business eminence not to his heritage but to an insatiable, twelve-hour-a-day appetite for work.
sbRounding out its top team for the upcoming investigation of the nation's stock exchanges, the SEC named Manhattan Lawyer Richard H. Paul, 41, as chief counsel. Possessed of the cautious judicial temperament in almost exaggerated degree, Paul is a graduate of Cornell (class of '41) and Yale Law School, as a partner in the up-and-coming New York legal firm of Paul, Weiss, Rifkind, Wharton & Garrison has specialized in corporate and tax law. Reporting directly to the investigation's recently appointed generalissimo, Chicago Lawyer Milton Cohen, Chief Counsel Paul will oversee a staff of 25 lawyers searching for hanky-panky in the exchanges, will also direct the public hearings.
sbLong a vociferous critic of Ford and General Motors for their way of operating abroad through directly owned subsidiaries, American Motors President George Romney, 54, ardently argues that to avoid stirring up xenophobia abroad, U.S. corporations should move into foreign markets unobtrusively in cooperation with local businessmen. True to his credo, Romney will now enter the Common Market in a cooperative deal that requires no capital investment by him. Beginning next month, France's government-owned Renault auto company will start building the Rambler Classic in its Belgian plant. Major parts will be shipped from A.M.C.'s U.S. plants, but the Common Market car will have more subdued, European-style trim and will be dubbed "Rambler by Renault."
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