Word: billioned
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Dates: during 1950-1959
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WESTINGHOUSE COMEBACK is pushing 1957 sales near $2 billion (previous record: $1.6 billion in 1954). Net per common share will hit nearly $4 v. 10? in strike-troubled 1956. Consumer products sales are up, and defense contracts (Bomarc missile guidance systems, Polaris missile launchers) were unhurt by recent cutbacks...
...ROAD PLANNERS have already pumped $1.4 billion into contracts for building 41,000-mile federal highway net. Another $924 million is set aside for roads still in the blueprint stage, and $932 million has gone into preliminary engineering and buying rights...
...years, net profits declined from 5.2% of sales in 1947 to only 3.5% last year. But the figures are misleading. The so-called profit squeeze is more apparent than real, simply because companies are spending so much money on replacement and expansion programs that have cost $264 billion since World...
...went to pay interest on IBM's debt. In years past, U.S. manufacturing corporations were able to finance most of their expansion by retained earnings, had a relatively small debt to worry about. But today so many companies are expanding that even though industry retained earnings of $6.8 billion last year, it had to borrow another $9 billion. Result: long-term corporate debt reached $97.3 billion last year v. only $46.1 billion in 1947. Ten years ago, interest charges amounted to only $2.5 billion, or 10% of gross returns to capital. This year the charges will hit $10 billion...
...years in the Navy during World War II, he went to Columbia University with the idea of becoming a history professor, instead joined Benson & Hedges as vice president under his father, whose company controlled Benson & Hedges, helped boost sales of Parliaments from 100 million yearly in 1946 to 2.2 billion in 1954. On Cullman's recommendation, Philip Morris invested $3,000,000 in packaging equipment to put Marlboro in the flip-top box, saw Marlboro quickly flip into the top ten brands...