Word: borg
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Growing Nest Egg. The Goldwater gold was mined mainly from two mother lodes: the Goldwater-family retail stores; and Chicago's Borg-Warner Corp., where Peggy Goldwater's father, R. P. Johnson, was a vice president and director until his death...
...meetings and in personal phone calls to such executives as A. T. & T. Chairman Frederick R. Kappel and New York Stock Exchange President Keith Funston, Johnson has appeared a friendly, conservative Chief Executive who understands business. It is not unusual to hear from businessmen comments such as those of Borg-Warner Vice President Judson Sayre: "You get sold on Johnson. If he conducts himself with not too many blunders between now and November, I'd vote for him -and I've never voted for a Democrat in my life...
Promising to clean an 8-lb. load of clothes for $1.50 to $2, they were expected to be just as successful. The Norge division of Chicago's Borg Warner Corp. got into the market early and now has 50% of it. Soon 32 other firms followed-including G.M.'s Frigidaire, Whirlpool, Westinghouse, Philco-and the competition was on. Most of the machines were sold not to established and experienced drycleaners, but to investors who swallowed the high-powered promises of "profits while you sleep." Hard-talking salesmen urged investors to take out 90% loans on equipment worth...
Tangible Proof. Businessmen who feared that the stock market's summertime drop heralded a recession seem almost astonished at how good business has remained. "It's still hard to believe," says Borg-Warner Chairman Robert Ingersoll, "but it looks like another good year." Noting the sharp change in the business climate since last summer, General Electric Chairman Ralph Cordiner says: "In mid-June through October, the economy seemed to be geared to the stock-market reaction, and people apparently lost their confidence. But that seems to be behind us now." Samuel A. Groves, president of Boston...
...Borg-Warner...