Word: backlog
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...this week the main concern of Herrington is not where his products fight but how fast he can get them out. To speed production he has already subcontracted 60-70% of his $35,000,000 backlog, hopes to boost the ratio still higher. His deliveries in 1941's first eight months were $4,703,000, only 2% less than 1940's record-breaking total. But December sales alone were roughly $3,500,000, including $2,750,000 worth of tanks for the Dutch. For next year, if the expected orders come in, Herrington is shooting at deliveries...
Where Emanuel's control of this $1,000,000,000 backlog stops and Girdler's begins is not a matter for statistical analysis. Emanuel's Aviation Corp. owns 71% of Vultee common, which owns 34% of Consolidated. But Girdler (who holds only 2,000 of the 5,780,000 outstanding shares of Aviation Corp.) is executive head of both. Vultee Chairman Harry Woodhead becomes president of Consolidated and executive vice president of Vultee. Vultee President Richard Millar retains his present job, also becomes executive vice president of Consolidated. Both are Girdler appointees...
Summing up aircraft industry's prodigious wartime growth, Aviation calculated its manufacturing backlog at $8,343,000,000. Biggest was the yule log on Curtiss-Wright's hearth, only $5 million less than a billion. Second largest: Ford Motor Co. (engines, four-motored bombers) with $736 million. Third: Consolidated Aircraft, $725 million...
Paradoxically, United will use the proceeds (about $26,000,000) not for expansion but to pull in its horns. As it was when it set aside a $4,000,000 reserve (TIME, Nov. 17), it is thinking of the day when the war will be over. With a backlog of $500,000,000 and less than $25,000,000 in capital, United is financing its roaring business out of sales. But when those Gov ernment checks stop arriving, it will have to have more capital. There will be conversion and development expenses. And United may want...
Vultee has a $178,000,000 backlog and 9,000 employes; it rang up a $593,000 loss in the six months ended last May. Consolidated's 30,000 employes are busy on a $725,000,000 backlog; it earned $3,611,000 in 1941's first eight months. But the deal makes sense aplenty to Fleet, Vultee, and the Army & Navy...