Business: Kennedy's Plan

Bugaboo of all corporation managements are plans of recapitalization. Usually such plans involve asking stockholders to waive overdue dividends. Invariably hey ask stockholders to swap something hey have bought in good faith for some ew security of uncertain worth. When here are several different classes of stock ach class is likely to feel that its interests ave been sacrificed for the others.

Last December Radio Corp. of America decided upon recapitalization. It has 495-597 shares of Class A preferred which the company can buy in at $55 a share. Dividends on this stock...

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