Word: boomingly
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Dates: during 1950-1959
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WHEN Contributing Editor Michael -(TM) Demarest wrote this week's cover story on Greek Shipping Magnate Stavros Spyros Niarchos and the boom in postwar shipping, he brought to his subject an understanding and feeling that came from long personal experience at sea. Mike spent three of the World War II years sailing in all classes of merchantmen, but mostly in tankers, about the Atlantic and Pacific...
...baby formulas and for intravenous feeding in hospitals, usually gathers dust on druggists' shelves. The Liggett chain (118 stores) may sell 400 Ibs. a month; after the LHJ fable, sales zoomed to 800 Ibs. a day. Other chains across the country reported the same sort of boom. And because the plain formula tastes so flat, there was a corresponding boost in sales of peppermint, vanilla and coffee and other flavoring extracts...
...leader of a new band of Argonauts who have given the shipping world a new term: "the Greeks," meaning the independent shipowners of whatever nationality who have sailed on the crest of the postwar shipping boom. Customarily included among "the Greeks" is Midwestern-born Daniel K. Ludwig, 58, whose fleet (estimated at 1.5 million tons) is second only to Niarchos'. Behind Ludwig presses Niarchos' brother-in-law, Aristotle Socrates Onassis. 49, a flamboyant Smyrnan who, with Niarchos. bought the Monte Carlo Casino in 1954, owns some 1.3 million tons of shipping, the world's third biggest independent...
...Thanks largely to the independents, world shipyards today are busier than in any peacetime year in history. From Norway to Nagasaki, slipways are jammed with new hulls. Though they are busily expanding capacity to handle the boom, some shipyards cannot promise delivery before 1962. Anticipating a continued upsurge in world trade (which has already soared 50% since 1948). shipowners are ordering giant new ore carriers, combination ore-petroleum ships, roll-on, roll-off carriers to haul loaded trucks and vans, fast new freighters to slake the world's impatient thirst for machinery and steel, coal, wheat, and other basic...
Record sales pushed up giant General Electric Co. to a net of $113 million (v. $108 million last year) on sales just below $2 billion. Sylvania's sales high of $155 million produced earnings of $3,000,000 Wrapping up other records in the packaging boom, St. Regis Paper Co. earned $12.3 million v. $8.7 million in the first half of 1955. Continental Can Co. had a half-year record net of $14.5 million, up from $10.3 million last year. High retail sales were reflected in store profits. In its first 24 weeks of the year, Safeway Stores...