Word: budd
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...good example of how the railroads will pamper their passengers with new equipment was the $6 million, 60-car order which, last week, was ready for signing with the Edward G. Budd Manufacturing Co. Three railroads (the Chicago, Burlington & Quincy, the Denver & Rio Grande Western, the Western Pacific) plan to operate the new equipment in ten-car, diesel-powered daily streamliners be tween Chicago and San Francisco. The first of the new trains will go into service next summer...
With trains like these, 74-year-old Edward G. Budd believes that plenty of passengers will still travel by rail in the postwar air and auto age. But Budd wants speed too: he holds that the railroads' ultimate goal should be a 50-hour coast-to-coast streamliner, charging $70 in the coaches...
...deal was a five-year lease on 77% of the new plant (rental $649,806 a year), with an option on the other 23% if peacetime production should warrant it. It grooved nicely into Budd postwar plans. Budd's munition-making (8-inch shells, aerial fragmentation bombs) would go on until war contracts were filled...
Meantime, the whole, elaborate Budd railway car manufacturing division would be moved to Bustleton from its old cramped quarters in another part of Philadelphia. Tooling would start at once; production, set at a 600-car-a-year pace, would begin in the fall...
Timorous stockholders, who have borne previous Budd spending (Budd ideas have sometimes lost money at a million a clip), shuddered. But they had small reason. The company had over $19 million in working capital, and already held backlog orders for 700 railroad cars. Budd also expects to expand its truck-trailer business, plus its customary body-building orders from Ford, International Harvester, Chrysler, G.M., Nash and Studebaker. The railroad orders alone are greater than the company's entire prewar output...