World Business: Personal File: Jul. 6, 1962

∙Britain's Billy Butlin, 63, has built a hefty fortune giving vacationers more for their money: this year a million Britons will pay $42 each for a week of solid comfort and corny entertainment at one of eight Butlin's Holiday Villages. Now the ebullient Billy has decided to give Butlin Ltd.'s 26,000 shareholders more for their money, too. Under a 1948 agreement. Butlin and his ten co-directors were entitled to draw bonuses of $464,800 on 1961 profits of $7.8 million. Instead, Butlin and friends propose to take only $154,000 and to limit future bonuses...

Want the full story?

Subscribe Now


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

Learn more about the benefits of being a TIME subscriber

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