Word: automan
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...thinking young empire builder named Errett Lobban Cord. At one time or another, Cord had control of New York Shipbuilding, Stinson Aircraft, American Airways, and Auburn Automobile Co., which built the Cord car, now a highly prized collector's item among classic-car buffs. In the great Depression, Automan Cord's empire dissolved. Since then, he has been living quietly in Nevada, making money in real estate and serving as a state senator. Last week Automan Cord was back making the kind of glamorous news he loves, this time in uranium...
...chief executive, remain only as a consultant to the board of directors. Into his place will go Harold E. Churchill, 53, Studebaker's general manager, who has been with the company since 1926. But the real boss will be Curtiss-Wright President Roy T. Hurley, himself a veteran automan, who learned the fine points of the industry as Ford's director of manufacturing. Taking over Curtiss in 1949 when it was doing poorly, he cut costs and boosted production so effectively that the company turned a profit of $35 million in 1955. Now, with the Studebaker-Packard deal...
...Ford II put production this year at "less than 6,000,000 units." Said Ford: "Production will remain a negative factor at least until the last quarter." Furthermore, he added, "it seems unlikely that the general economy will expand markedly during the remainder of 1956." The frank talk won Automan Ford a cheering vote from the 2,400 shareholders, some of whom had grumbled over the drop in Ford stock from 64½ to 53½. At the close of the meeting, many of them hurried forward to shake Ford's hand. In Wilmington, Del., General Motors President Harlow...
...crimping policies. On FRB's side are such experts as J. P. Morgan Chairman Henry C. Alexander, who thinks FRB "was wrong only in not being more vigorous a little sooner," Harvard Economist Sumner Slichter and retiring New York Federal Reserve Bank President Allan Sproul, who tartly dismisses Automan Curtice's complaint as "a sort of cosmic jest." Detroit's difficulties, says Sproul, are a hangover from 1955's frantic sales race when too-easy credit skimmed the cream from 1956's auto market...
...Investment Co., and expects to gross $50,000 this year as a broker in penny stocks. Stockseller Coombs also started his own brokerage firm. Others got into the act, formed their own companies and began peddling stock. The boom will come of age when & if Prospector Steen and ex-Automan Joseph Frazer, who have formed Standard Uranium, get their stocks listed on the American Stock Exchange, as scheduled...