Word: co
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Dates: during 1950-1959
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...will start another scramble for steel, and a shortage like last year's. That will not be known for sure until spring, when automakers learn whether expectations for a 6,500,000-car year are being met. Prospects for meeting that target looked good last week. Ford Motor Co. said that in the first ten days of January it sold 59% more Fords and 30% more Lincolns than the like period last year, the best year-opening period for Fords in history. Steelmen themselves are betting heavily that this will be their biggest year. The American Iron & Steel Institute...
...year, must give up any idea of increased taxes, instead cut its operating budget by 10% within two weeks. If it did not, Esso would cancel its $2,000,000 modernization program at the Bayonne plant, and very likely move out altogether-just as Tidewater Oil Co. did two years ago. The Esso plant pays one-fourth of the tax bill of Bayonne (pop. 81,500), has a $1,000,000 monthly payroll for its 1,800 workers. Said Mississippi-born Edwards: "If we pull out and shift the tax load to other industries, a number of these other industries...
COUNTERATTACK against Financier Leopold Silberstein is being pressed by Robert H. Morse Jr., whose control of Fairbanks, Morse & Co. is challenged by Silberstein's Penn-Texas Corp. in proxy war (TIME, Dec. 17). Morse has bought 1,100 shares of Penn-Texas stock, is helping finance dissident stockholders trying to unseat Leopold Silberstein from Penn-Texas presidency...
MISSILE PRODUCTION will be started by Temco Aircraft Co., No. 1 U.S. airframe subcontractor. Dallas firm has just won $16 million Navy contract to develop secret new missile, will increase its 750-man engineering force...
...Raymond C. (for Christy) Firestone, 48, was elected president of the Firestone Tire & Rubber Co., the world's second largest rubber firm (just behind Goodyear), succeeding Lee R. Jackson. 65, who moves into a newly created position as vice chairman of the board. Ray Firestone, fourth son of Company Founder Harvey S. Firestone (brother Harvey Jr. is Firestone's board chairman and chief executive officer), started with Firestone as a gas-station attendant in California after graduating from Princeton...