Word: bement
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Freshman heavies: Captain Honry Jordan, stroke; Stewart Hussey, seven; Geoffrey Locke, sex; Howard Dickinson, five; Charles Atkinson, four; John Eager, three; John Ellefson, two; Nick Tilney, bow; Reed Bement, coxswain
PROXY FIGHT for control of famed machine -toolmaker Niles -Bement-Pond is over. With stockholders' meeting still a week away, opposition group led by Penn-Texas Corp.'s President Leopold Silberstein already has more than 50% of the votes, is sure to take over the company...
...Christmas bonuses to employees subject to collective bargaining? Yes, ruled the National Labor Relations Board last week, ordering Niles-Bement-Pond Co., of West Hartford, Conn., to bonus-bargain with a local of the C.I.O. United Automobile Workers. The company, which has paid a bonus for twelve years, had cut the total from $108,000 in 1949 to $40,000 in 1950, when it started a new and more expensive pension plan...
Rentschler persuaded Niles-Bement-Pond Co. (precision tools), which had plenty of war-earned surplus cash and unused war-built factory space, to bet its cash on Rentschler's know-how. The company staked him to $250,000 and a factory to develop his first engine. Because Rentschler got his factory space and tools at Hartford, in the plant of Niles-Bement-Pond's tool-building Pratt & Whitney division, the new company was called Pratt & Whitney Aircraft...
Labor relations had become so bad at the Niles-Bement-Pond Co. machine-tool plant in Hartford, Conn. that they could only change for the better. The company's president, Harvardman Charles Walton Deeds, 44, was good at making money (he ran a $40 stake in Pratt & Whitney Aircraft Co. into a $1,600,000 profit). But he was stiff-necked in his dealings with employees. The C.I.O. United Electrical, Radio and Machine Workers Union, which was heavily sprinkled with Communist leaders, was just as tough as President Deeds. Last year their mutual toughness resulted in a bitter...