Word: bonus
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Dates: during 1930-1939
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...most open-handed U. S. industry, outdid itself in 1937. Metro-Goldwyn-Mayer Corp. alone paid 240 salaries of $15,000 or more, and M. G. M. and its parent company, Loew's Inc., paid the two biggest salaries of all: $1,296,503 in salary and bonus to Production Executive Louis B. Mayer, $694,123 to Loew's Vice President J. Robert Rubin. Loew's President Nicholas M. Schenck got $489,602. Highest paid performers: Actress Greta Garbo, $472,499; Actor Fredric March (who deserted Hollywood for Broadway), $484,687. No. 1 Box-office Star Shirley...
...better side of the bargain. A man of wit, he remarked: "I was fairly well dressed when I went into that room, but they've taken away everything but my shirt." To enable Mr. Shonts to dress again I. R. T. promptly recompensed him with a $150,000 bonus and doubled his salary...
...named Harry and Maxwell Kunin had rolled out to Chicago in a Pullman and gone into the grocery trade. With their father they opened a small store, branched into manufacturing and wholesaling, did a $250,000 gross business in 1919, their first year. Paying workers on a Bedaux-like bonus system, concentrating on relatively few (2,000) items and selling them cheaply, Samuel Kunin & Sons, Inc. grew fast. Last year they grossed nearly $5,000,000-a third as much as lumbering old Sprague Warner, which was having tough going with its 11,000 items (including 84 brands of coffee...
President Arthur R. Clapham of Johnson & Johnson ("Red Cross" medical supplies) last week announced a $250,000 Christmas bonus (5% of 1938 salaries) for 2,700 of the company's employes. Other bonuses declared last week: $100,000 (one week's wages) for International Silver Co.'s 4,350 employes; $40,000 for Eastern Air Lines' 800 employes earning under $300 a month...
Fitting themselves into this jigsaw puzzle of conflicting theories has led the sponsors of profit-sharing into dozens of applications: cash bonus plans, stock purchase plans, semi-retirement plans, etc. Procter & Gamble's is the best known in the U. S., with 50 years of success behind it. Its employes kitty in 5% of their wages. The company matches this with a contribution of 5% of the worker's wage for the first two years, increases this to a maximum of 15% by the time the worker has served 15 years. The fund is used to purchase stock...