Uranium Interests
At the height of the Cold War, when the US Atomic Energy Commission was desperately seeking sources of uranium for the production of atomic weapons, John Roosevelt became an officer and director of the Standard Uranium Company, reportedly the first and most successful publicly-traded uranium corporation, which registered with the Securities and Exchange Commission in early 1954 and soon attracted heavy investments by industrialist Floyd Odlum, one of the wealthiest men in America. Inspired thereby, brother Elliott also formed a uranium company, but it foundered when the ore market collapsed in the late 1950s.
According to an authorized biography of San Francisco hotel magnate (and Democratic Party fund-raiser) Benjamin Swig, Roosevelt was also partnered with Swig and Hollywood producer Louis B. Mayer, the powerful "boss" of Metro Goldwyn Mayer, in what was probably a related consortium, involving uranium investments in southern Utah.
Read more about this topic: John Aspinwall Roosevelt
Famous quotes containing the word interests:
“Unless the people can choose their leaders and rulers, and can revoke their choice at intervals long enough to test their measures by results, the government will be a tyranny exercised in the interests of whatever classes or castes or mobs or cliques have this choice.”
—George Bernard Shaw (1856–1950)