Word: bonus
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After 16 years of profit-sharing, W. A. Sheaffer Pen Co.'s 1,766 workers were used to bonuses. But last week, in the main plant at Fort Madison, Iowa, a notice went up that set men & women dancing among the machines. For the latest quarter, their bonus would total 50% of their pay-by far the biggest in Sheaffer's history, and more than double the previous quarter...
...bigger profit was the result of increased efficiency and greater worker productivity which, said Sheaffer, can be traced back to the company's profit-sharing policy. From a bonus of 4% of wages in 1934, when the system was established, the bonus rose to 25.5% in Sheaffer's current fiscal year (e.g., a worker earning $2,400 a year got $612 extra). Another efficiency incentive: every worker who suggests a new method or machine for cutting costs also gets one-third of the first year's savings. Frequently, the worker's share may exceed...
...while. Parker Pen Co. pushed him out of first place, then Eversharp with its ballpoint eclipsed them both. But Sheaffer brought out its own cheap ballpoint ($1.50) and forged again into first place. Craig Sheaffer expects to stay there, confident that his workers will match the higher bonus with lower costs and higher productivity...
...This World." Nothing like it had ever happened in baseball before. It was the biggest sum ever paid for an untried player (previous high: an $80,000 bonus peeled out by the Detroit Tigers for Catcher Frank House two years...
...camp at San Bernardino, Calif. He will be seasoned this year with the New Orleans Pelicans, a Pirate farm team, and make his big-league debut in 1951. The big question is whether money in the bank will spoil his appetite for baseball, as it did with some other bonus babies, notably Outfielder Dick Wakefield (TIME, Jan. 2). Pettit already has $10,000 on account, and will draw down the rest of his bonus in yearly installments...