CORPORATIONS: Living It Up with Pepsi

Next to his wife, durable Screen Siren Joan Crawford, the personal pride of Pepsi-Cola Chairman Alfred Nu Steele is his gymnasium-sized Manhattan apartment, 13 stories above Fifth Avenue at 70th Street. Easily awed Broadway columnists have dubbed it "Taj Joan." But it's quite a place; Joan insists that visitors remove their shoes before entering lest they soil the quicksand-soft golden carpets.

Last week Steele, Joan and Taj Joan all hit the spot—the one marked X—at Pepsi's annual stockholders' meeting. Reason: a small note on page 6 of the annual proxy statement.

"During 1957, Mr. Steele had extensive alterations and structural changes...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!