Friday, Jun. 15, 1962
PERSONAL FILE
-Ten years ago, when he struck the MiVida uranium deposit on the Colorado Plateau, slim, haggard Geologist Charles A. Steen was so broke that he couldn't afford to buy milk for his children. Last week Steen agreed to sell MiVida and itc mill to New York's Atlas Corp. for $12.8 million. Steen sold for capital gains "because it was the only way I could keep anything." Steen now operates two big Nevada cattle ranches, has branched out into other kinds of mining (lead, zinc, silver, gold and mercury), recently bought a New Mexico marble quarry, and is erecting an office building in Reno. Says the 42-year-old ex-prospector: "I don't intend to sit around and collect dividends."
-After eleven years of one-man rule by irascible Clarence (Clancy) Sayen, the 14,000-member Air Line Pilots Association chose a new president: mild-mannered Charles Homer Ruby, 52. Backed by retiring President Sayen as a way of freezing out his arch-opponent, ALPA First Vice President John Carroll, Ruby is a onetime mechanic who has logged 20,000 flying hours in everything from chugging J-1s to jet-powered DC-8s, ranks No. 2 on National Airlines' seniority list. He inherits a Sayen-created impasse. The convention that elected Ruby also voted to continue the two-year-old strike against Southern Airways that has already cost ALPA some $2 million.
-Though he has little in common with the stereotype Texas millionaire, Troy Victor Post, 56, a reserved and bespectacled Dallas financier, can swap success stories with any wheeler-dealer. Raised in a farm shanty, Post was an insurance agent at 20, and at 27, with $138 in cash, formed his own insurance company. Within eleven years he had $40 million worth of life policies in force and began extending his interests to banks, electronics--and other insurance companies. Currently, he is planning his most ambitious venture yet: creation of the Greatamerica Corp., which, with more than $1 billion in assets, will rank as the nation's largest insurance-management company. To begin with, Greatamerica will manage three Post-controlled companies--American Life, Gulf Life, and Franklin Life--but before he is through. Post hopes to add as many as ten more companies to its stable.
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