Word: ac
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Dates: during 1950-1959
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...layoffs. While only 15% of the U.S. labor force was covered by pension systems in the '30s, today 90% are covered, and private pension plans have grown from 720 in 1930 to 14,000, covering more than 10 million workers. An estimated $12 billion in reserves has already ac cumulated in private plans, and they are growing at the rate of $2 billion a year...
Defense Experience: In World War II, Wilson converted his industrial giant (Chevrolet, Pontiac, Oldsmobile, Buick, Cadillac, Frigidaire, diesel engines, AC Spark Plug, Hyatt Bearings and 23 other divisions) to war production. G.M. made nearly one-fourth of all the tanks, armored cars and airplane engines produced in the U.S. during World War II, almost half of all the machine guns and carbines, two-thirds of all the large trucks. At war's end, Wilson reconverted G.M. to peacetime production at top speed and partially converted to defense production when the Korean war broke out. Today, Wilson...
Curtice, now 59 and sure to be Wilson's successor, has been with G.M. all his business life. Born in Eaton Rapids, Mich., he graduated from Ferris Business College at Big Rapids in 1914 and hustled to Flint to start in as a bookkeeper for G.M.'s AC Spark Plug division. Within a year, he was AC's comptroller, the youngest executive (at 21) in the industry. He got a reputation as a comer who could "pitch, catch and cover first base at the same time." He learned finance, production and design, showed an aggressive flair...
Glow, little glowworm, fly of fire, Glow like an incandescent wire, Glow for the female of the specie, Turn on the AC...
...steel-based economy of the U.S. began to slow down. The auto industry had already laid off 91,200 of its 1,200,000 workers. In Cleveland, Toledo, Buffalo and Atlanta, auto assembly plants began closing down. In Flint, Mich., the two Chevrolet plants laid off 10,000 men, AC Spark Plug 8,000, Buick 200. In the whole U.S., besides the 475,00 striking steelworkers, an estimated 250,000 others were out of work because of the strike, and other thousands soon would be. The strike's cost to date...