Floyd Odlum
Floyd Odlum was born in United States of America, United States on March 30th, 1892 and is the Entrepreneur. At the age of 84, Floyd Odlum biography, profession, age, height, weight, eye color, hair color, build, measurements, education, career, dating/affair, family, news updates, and networth are available.
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Floyd Bostwick Odlum (March 30, 1892 – June 17, 1976) was an American lawyer and industrialist.
"Expossibly the only man in the United States who made a fortune out of the Depression," he has been dubbed.
Life and career
Odlum, a Salt Lake City corporate attorney, was given the opportunity to work at a New York firm in 1921, and he became vice president of his main client, Electric Bond and Share Company. Odlum, a friend and their wives, amassed a total of $39,600 and established the United States Company in 1923 to speculate in utility and general securities. The company's net worth had grown 17 fold to nearly $700,000. Odlum formed Atlas Utilities Company in 1928 to take over the common stock of his other business.
Odlum, one of the few business moguls to believe that the Wall Street boom would not last much longer, and he sold one half of Atlas's holdings as well as $9 million in new securities to investors in the summer of 1929. At the time, the stock market was down to $14 million in cash and short-term notes. Atlas Utilities purchased stock in less fortunate investment firms at Depression-reduced rates over the next two years. Odlum changed gears, offering off utilities before tighter controls were introduced and switching to large-scale financing as a result. Franklin D. Roosevelt was elected President of the United States. Odlum was one of the ten richest men in the United States by 1933. Among other companies, he had a major interest in RKO Studios, Convair, Northeast Airlines, and Bonwit Teller, and was also involved with financier George Newell Armsby. Odlum's relationship with Armsby and John Cheever Cowdin's business Transcontinental Air Transport, Inc., provided a link to Armsby and John Cheever Cowdin's venture Transcontinental Air Transport, Inc.
Odlum sold RKO to Howard Hughes in 1948. Odlum was an investor in the 1954 production of The Pajama Game, during which actress Shirley MacLaine was discovered by Paramount Pictures producer Hal Wallis—and Goldman Sachs' head Sidney Weinberg was convinced to invest as well.
Odlum was first married in 1915 to Hortense McQuarrie, the first female department store manager (at Bonwit Teller); they were divorced in 1935. Jackie Cochran, his second wife, whom he married in 1936, was aviator Jackie Cochran. Amelia Earhart and her partner George P. Putnam, as well as the Odlums, were close friends of Earhart and her husband George P. Putnam, and the Odlums were financial sponsors of Earhart's flying ventures. They lived in Indio, California, where they lived after the 1950s. They created the Cochran-Odlum (C-O) Ranch.
Odlum and business associate L. Boyd Hatch acquired and established Hatch's Camp, also known as St. Ann's Retreat, or Pine Glenn Cove, a rugged retreat in Logan Canyon, Utah. Pine Glenn Cove was listed on the National Register of Historic Places in 2006.
The American Academy of Achievement's Golden Plate Award was given to Odlum in 1964. He was accompanied by his wife, colleague Honoree Jackie Cochran, as a couple.
Odlum died in 1976 at the age of 84. Jackie Cochran's wife died four years later on August 9, 1980.
