Word: cessna
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...investors got a classic example last week of the hazards in estimating wartime corporation profits. Out with their annual reports were Cessna Aircraft Co. and Beech Aircraft Corp.-both reporting for the fiscal year ended Sept. 30. Both companies are small, smart and fast-growing; both specialize in plywood, twin-engined training planes; both have recently gone into gliders; both have factories in Wichita, Kans. Yet their earnings were as different as down...
...Down was Cessna which tripled sales to a record $37,589,000 while profits flopped 60% to $738,000. Big reason for the slump: last year Cessna feasted on fat foreign orders (at 10-20% profit margins); this year it rationed along on U.S. Government contracts (2% margins). Besides this Cessna set aside $5,302,000 for Federal taxes, $4,800,000 for price refunds to the Government, and $1,254,000 for "policy adjustments and conversion from war to peace," when Cessna hopes to build "the family...
...over the U.S. a little-known but strategic war industry is booming. It is the business of factory feeding. Two years ago this business contented itself with bourgeois monikers like "lunch wagon" or "canteen." Now the factory feeders haughtily call themselves "subsistence contractors," "industrial caterers," "rolling restaurants" and (at Cessna Aircraft) "Witamin Wagons...
...Cessna Aircraft in Kansas women saw, sand, nail and glue wood; sew, stretch on and dope the covering fabric; install the instrument board and radio...
Tough-minded Walter Hershel Beech, 48, looks like an oversized Bing Crosby. He never got through the seventh grade but has an amazing knack for machinery and aerodynamics. After five years in the Army Air Corps (1917-21), he joined Lloyd Stearman and Clyde Cessna (both of whom later formed their own companies), started Wichita's Travel Air Co. to make small planes. Travel Air boomed with the air craze of the Twenties...