Word: burnham
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Dates: during 1960-1969
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...economy, but Westinghouse's sales in recent years have been stagnant and its profits falling. Like the dinosaur, the company became too big, too contented and too slow-moving to change with changing conditions. It badly needed a prod-and it got a powerful one in Donald Clemens Burnham, who took over as president 15 months ago after six years as manufacturing vice president. Even Burnham, 49, professes surprise at what he has been able to do. Sales rose 6.2% and profits 30% in this year's first nine months, and this week Burnham presents even better news...
...Long Memos. Burnham is a rangy, mild-mannered mechanical engineer who seriously insists to his employees that he wants "work to be fun" -and sets something of an example by putting in an 8:30-to-6 day, rarely taking work home at night or on weekends. But he knows how to wield both the ax and the scepter-and he has found enough time in ordinary work days to wield both so well that the once-slumbering Westinghouse has leaped to life. When he took over after the resignation of the late Mark Cresap, says Burnham, "I didn...
...sell out to Rheinstahl, and in fact began merger talks with Rheinstahl Boss Werner Sohngen more than a year ago, but he owns only 53.9% of the stock. Most of the rest is in the hands of such U.S. investors as Morgan Guaranty Trust, Wall Street's Burnham & Co. and Financier Joseph R. Nash, who together paid $10 million for their stock. So far, Rheinstahl and the U.S. interests have not agreed on the sale, and at week's end, Sohngen warned that "without Goergen, the situation at Henschel could only get worse...
...reason that Westinghouse earnings have remained low despite rising sales (now past $2 billion) is the top-heavy number of white collars on the electronics giant's payroll. No one saw the situation more clearly than sharp-eyed Donald C. Burnham, 49, a "productivity engineer" who was lured away from General Motors to overhaul Westinghouse production lines-and did his job so well that he was named president last July. To symbolize his economy-minded approach, he refused a presidential Cadillac in favor of his own Corvair; more significantly, Burnham centralized such operations as marketing, planning and styling...
...oldest U.S. greenhouse manufacturer, Lord & Burnham of Irvington, N.Y., increased its advertising schedule this year and has already received more inquiries than it got in all of 1963. Turner Greenhouses of Goldsboro, N.C., sold $50,000 worth five years ago, while last year its sales amounted to $250,000. Turner's least expensive model is a plastic-covered 7-by-8-ft. lean-to built over the door or window of a house through which it derives its heat. A 25-by-50-ft.-square greenhouse, with all-aluminum construction, fully automatic controls, an independent oil furnace...