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...York City's assortment of political parties was enriched last week by a new one. Its name: the "No Deal" party. Its emblem: a lighted electric bulb. It also had a candidate for mayor: Yaleman Newbold Morris, Republican City Council President and protégé of Mayor Fiorello H. LaGuardia, who is retiring. (Morris' opponents : Judge Jonah J. Goldstein, Republican - Liberal -City Fusion candidate ; former Brooklyn District Attorney William O'Dwyer, choice of the Democrats and the American Labor Party.) The new party's name, thought up by LaGuardia, was intended to signify that...

Author: /time Magazine | Title: The No Dealers | 8/13/1945 | See Source »

...light bulb, as explained by Candidate Morris, symbolized the shedding of light on the deals of the other parties...

Author: /time Magazine | Title: The No Dealers | 8/13/1945 | See Source »

...rich, world-powerful N. V. Philips Gloeilampenfabrieken (Incandescent Lamp Works Co.), of Eindhoven. Back of North American Philips are $250 million in assets, brains, familiarity with cartel pricing agreements and patent pools that in a generation made Philips of Eindhoven virtual master of Europe's radio and light-bulb industry. N.A.P., born in 1942, is already a tough baby...

Author: /time Magazine | Title: CORPORATIONS: A Very Tough Baby | 7/23/1945 | See Source »

...Parent Philips. In 1891, Dutch Engineer Gerard Philips borrowed 150,000 guilders from his banker father, bought a lamp works in the cheap-labor town of Eindhoven. Gerard, a few months short of bankruptcy, urged his brother Anton to try to sell Philips bulbs. Anton agreed, traveled gaslighted Europe, sold bulbs far beyond the plant's capacity to produce (his greatest coup was a 50,000-bulb-a-year order for the Tsar's Winter Palace). By 1912, the company was big enough to be incorporated (one share was worth 1,000 guilders...

Author: /time Magazine | Title: CORPORATIONS: A Very Tough Baby | 7/23/1945 | See Source »

Double Selling. During World War I, Philips stayed on its neutral feet. In 1919, it began its characteristic way of doing business. The first was an exclusive cross-licensing of light-bulb patents with General Electric. Then followed a truce with the German lamp trust, Osram, and the formation, in 1924, of the giant Phoebus cartel, to control the sale of lamp bulbs throughout the world. This included companies in Britain, France, Germany and Japan, and American-owned foreign companies. Phoebus "stabilized" prices at a high level, roughly four times higher than...

Author: /time Magazine | Title: CORPORATIONS: A Very Tough Baby | 7/23/1945 | See Source »

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