Word: ballpoint
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Straus's undoing was the ballpoint pen. He entered the market too late with a bad product. Eversharp lost $3.4 million in 1947; its stock fell from 25⅞ to 10¼. In November 1946, Straus had bought control of the Schick injector razor, looking for a cushion against hard times. He got a cushion all right (the razor division helped Eversharp show a $1.2 million profit last year), but there was a big pin in it. The pin was R. Howard Webster. To get the razor company, Straus had to take Webster, a big Schick stockholder, into Eversharp...
...Manhattan, Macy's put on sale the latest samples of Ben & Joe's scientific endeavor, a combination felt hat and ballpoint pen. There was a beanie for girls (the Pen 'n Dink, 69?), a Robin Hood hat for boys (the Alpen, 59?) and even a beret-style (with better felt) for adults ($1.69). All were rakishly decorated with a long feather tipped with a ballpoint pen. Benay-Albee has stepped up production to 180,000 feather hats a week...
Undeterred, Chicago's Milton Reynolds, manufacturer of ballpoint pens (". . . writes high in the stratosphere . . ."), together with the Boston Museum of Science, arranged an expedition that would explore the hitherto entirely unexplored Amne Machin range. Reynolds was out to discover the world's highest mountain (which some believe may be located in the Amne Machin), expressed the hope that a grateful China would name it after...
Another geyser, hotter than ever, boiled up from the underwater world of ballpoint pens. As usual, it was started by Milton Reynolds, the Old Faithful of ball-pointism (TIME...
...financial report, Reynolds Co. said reassuringly: "Frankly, one of the problems was the occasional development , of a small air bubble in the barrel of the pen which sometimes prevented the free flow of ink to the ballpoint. Literally thousands of perfect pens were, therefore, returned to the retailer as being defective...